Hardening international grain markets offer improved prospects for harvest prices here, with price likely to be up at least €25/t on last year.

International grain prices would normally weaken around harvest but markets are strengthening as we get further into harvest and concerns grow for global output.

Markets began to pick up in July 2020

This time last year barley prices were heavily discounted against wheat due to low winter crop plantings and increased spring barley across Europe.

With higher supply and lower maize prices expected, price was discounted to encourage increased usage.

This time last year dry wheat here was priced around €195/t, with barley around €170/t

Markets began to pick up in July 2020 and they have remained stronger since as a result of high global demand for maize, which increased in price. Since then, imported maize prices here increased from €170/t to above €280/t for May and June. That market remains tight and imported maize prices are currently either side of €235/t.

This price level is now supporting small-grain cereals. This time last year dry wheat here was priced around €195/t, with barley around €170/t.

The lack of harvest pressure is being helped by harvest difficulties in Europe, especially in France

Prices began to firm from September and growers received green prices equivalent to €180 per dry tonne for barley and around €205 for dry wheat.

This week, dry wheat is around €230/t for November while barley is at €220/t, up around €25/t and €40/t, respectively.

The lack of harvest pressure is being helped by harvest difficulties in Europe, especially in France. This is affecting scheduled imports and making feed grains scarce currently. This has resulted in even higher prices being paid for native barley in recent days.

While markets are strong, they are still at risk if US maize yields are higher than expected, EU wheat fails to make milling, or if Russian wheat stocks get unloaded on to the market.