Volatility continues in grain markets this week. Normally grain markets are looking at weather factors, combined with planting and crop progress this time of year to get an indication of direction.

This year however, markets must also contend with the ongoing massive uncertainty arising from COVID-19.

This week saw the average EU cif import price for maize fall below €150/t, triggering an import levy of €5.27/t for all maize, sorghum and rye imported into the region.

The Russian agriculture ministry also announced this week that it was suspending the export of most grains from the country until July as an export cap of 7m tonnes set last month had been filled.

A pressured maize market and reduced demand for malt along with forecasted rain in Europe is continuing to add pressure to barley markets.

Late last week, Glanbia offered a forward green harvest price for September of €160/t for wheat and €136/t for barley, both back €1/t on a previous offer that week. Prices are exclusive of members bonuses however.