Grain prices were not looking good this week. The Matif wheat price for December closed last week at €199.50/t. By Wednesday afternoon, it was at €194.50/t, a drop of €5/t.

In the US, wheat prices were also down from $535.75c/bu on Friday to 524c/bu on Tuesday evening.

In the UK, the London price for November closed last week at £172.40/t, down £2.15/t on the week before. On Wednesday afternoon, that price was at £168.30/t.

An announcement by the French ministry of agriculture that cereal production is raised in the country prevented a lift in wheat prices at the end of last week.

However, maize condition is reported to be declining in the country due to dry conditions.

The World Agricultural Supply and Demand Estimates (WASDE) report was released by the US Department of Agriculture on Tuesday 12 August.

A record US maize crop was predicted in the report: “Corn production for 2025/26 is forecast at a record 16.7 billion bushels, up 1.0 billion from last month with a 1.9million acre increase in harvested area and higher yield.

“If realised, this total would be 1.4 billion bushels more than the prior record set in 2023/24.”

The WASDE reported EU wheat production is up one million tonnes to 138.3 million tonnes. This would be the highest production since 2021/2022 the report said.

However, global consumption is lowered 1.1 million tonnes in the report.

Wheat harvest

In the UK, the Agriculture and Horticulture Development Board (AHDB) reported that the wheat harvest was 48% complete on 6 August, ahead of last year’s progress and the five-year average for the time of year.

Yields have been reported to improve as more crops are harvested and the average yield was estimated at 7.66t/ha.

This is 1% below the five-year average and 5.2% higher than in 2024.

Quality was also reported to be good, which is good for Irish farmers as it keep excess grain away from the feed market and available for export.

The AHDB also released its 2024/25 usage data for animal feed production last week.

It said: “Overall, feed production across the industry was down (-1.4%). However, feed demand across the UK’s cattle sector rose notably (+5%) in the 2024/25 season compared to the five-year average.”

Native prices

While prices are not good at present, there is still time for them to turn around.

Some grain buyers are starting to pay on account and this will leave room for a top-up later on in the year.