Grain markets remain fairly static with more buyers than sellers around the globe as users continue to buy for near-by use and so they must come to the market when the need arises.

Spot prices remain broadly similar to last week and there is a stronger tone to the market for the moment. The question remains as to when the big volumes of US corn will come to the market and what affect this will have on prices. The result is considerably uncertainty for forward positions out around May and beyond.

Spot price remains in the €207 to €210/t bracket for wheat, with barley once again in the €178 to €180/t range. And for the first time is quite a while imported maize has dropped below €200/t ex-port.

Further out prices exist but most in the market are unwilling to quote because of the uncertainty over maize prices going forward.

November ’14 prices have hardened somewhat with wheat quoted at €196/t by Glanbia earlier this week. And the trade indicate €180/t for dry November barley.