French wheat for December was in the red again on Monday afternoon. It was trading at €262.50/t, down €3.75/t on Friday’s close.

Having dropped to €260.75/t on Friday 10 March, the Matif price for December had recovered last week somewhat. On Wednesday evening, the price reached €271/t. However, it has fallen since that time.

Last week, green harvest prices of €220/t for feed barley and €228/t for feed wheat were offered to growers. Maize is also falling at similar rates to wheat.

Grain corridor extended

At the weekend, the Black Sea grain corridor was extended. The previous extension was until 19 March. The new extension means that grain will continue to leave Ukraine for at least 60 days through the corridor.

Rapeseed

Rapeseed prices were also falling on Monday, with good crops and supplies reported in Europe.

On Monday afternoon, French rapeseed for November was at €466.25/t, down €9.50/t on Friday’s close.

Large amounts of grain availability on the market and little demand are feeding into some of this fall in prices.

Rain fell in Kansas last week. It is one of the bigger wheat-producing states in the US and crops were reported to be suffering somewhat in the drought.

The spot price for FOB Creil malting barley fell back to €295/t last week also.