Grain prices are stronger again this week, with harvest quotes for dry wheat now up in the €390/t to €395/t range and barley about €15/t lower at €375/t to €380/t. But price volatility is evident every hour of every day.
MATIF December futures closed on Tuesday 3 May at €371.25/t but this was up at €390.50/t by Friday’s close.
It weakened a little on Monday and closed at €390/t on Tuesday, only €7.50/t below the May futures price which had been up to €90/t higher a few months ago.
Markets are increasingly worried about the fact that small-grained cereals continue to increase in price while new-crop maize has been relatively flat for some time. This is forcing a gap to open between barley and wheat prices.
Read more in Grain Trendshere.