The French Matif wheat price for December dropped significantly over the last week.

On Friday 25 July, it closed at €204.75/t, down €6.75/t over the week.

On Monday, it climbed a little bit, but returned to €204.50/t on Wednesday afternoon. The euro was falling against the dollar, which could help prices.

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This week, Agritel reported that “the international feed barley market is gaining traction, with two active tenders”.

Looking at prices at home and native barley is trading under imported maize, which, although readers may be disappointed with, does make it more attractive to buy.

On this week’s Irish Farmers Journal Crop Tour, there was a lot of talk about native grain use in animal feed and the need to support it. You can see those videos on our website.

Rapseseed prices were dropping on Wednesday afternoon this week.

Tariffs

On Sunday, the EU and the US agreed a framework for a trade agreement and it looks like EU products into the US would be hit with a 15% tariff, much lower than the 30% that had been proposed.

The agreement and final tariffs on certain products are still to be finalised.

Eóin Ó’Catháin of the Irish Whiskey Association told the Irish Farmers Journal: “We remain hopeful that the recently-agreed deal between the EU and the US can provide the framework for a return to zero-for-zero trade in spirits.

“As it currently stands, Irish whiskey and drinks producers face a 10% tariff when exporting to the USA – our biggest market.

“This, combined with a weakened dollar, has placed significant pressure on our distillers and some have unfortunately had to close their doors.

“A return to zero-to-zero would be a major help to these exporters.”

This week, the October March price for Free-On-Board Creil Planet spring malting barley was at €215.50/t on Monday 28 July.

Boortmalt told the Irish Farmers Journal this week that: “The pricing model remains consistent with prior years. Pricing is commercially sensitive and, as such, Boortmalt cannot discuss or comment on pricing.”

The company also said it is too early to assess how malting barley markets will be affected by the trade agreement between the US and the EU which is yet to be finalised.

Native prices

At home, native grain was reported to be becoming available to the trade.

November wheat (dried) was reported at around €220 to €225/t, while November barley was at €210/t. Spot prices are about €5/t below this.