Grain markets were generally up last week, but fell slightly at the beginning of this week.

The Matif wheat price for December closed last Friday at €203.75/t. It had moved back down to €201.75/t by Tuesday evening.

Maize was also down, but oilseed rape was up. French oilseed rape for November was falling at the end of last week, but jumped this week and hit €462.75/t on Tuesday.

On Tuesday in the US, wheat and maize prices were up slightly after a drop. UK wheat was up slightly.

Competition

The Agriculture and Horticulture Development Board reported this week that: “Competition between the main wheat exporters (the US, Canada, Argentina, the EU, Australia and the Black Sea region) remains strong and the influence of currencies is once again apparent.

“The stronger euro against the US dollar, which reached its highest level since June 2021 on Tuesday [27 January], will make EU wheat less competitive than that of other exporters.”

Last Tuesday, €1 was equal to $1.20 and this Tuesday 3 February, it was at $1.18.

There were reports this week that rain is needed for the maize crop in Argentina.

That dry weather in Argentina is also something to keep an eye on for oilseeds markets.

Rising oil prices may also be affecting oilseed markets.

Weather in the US also continues to be a watchpoint and frost kill is something to look out for in all major exporting regions in winter time.

Malting barley

The October/March price for Free-On-Board Planet malting barley this week was at around €207/t.

Taking €10/t off this price, that brings malting barley to under €200/t at €197/t (green harvest price).

That’s just €7/t above recent offers for feed wheat, but is about €17/t above feed barley.

However, it is much lower than the €41 to €43/t average premium that is usually delivered from the crop.

On the continent this week, Free-On-Board Creil spring malting barley was reported at €187/t (dried).

It was trading below feed barley, which was at €195/t (dried).

Malting barley prices are down at present, but are likely to rebound eventually – when that will be is the question.

Native prices

There were reported to be more sellers in the market this week in Europe.

At home, prices look largely unchanged. Spot barley was reported at around €215/t and wheat was at €215/t or under, all dried prices.

Maize has increased to €225/t, which could bode well for barley and wheat prices.