Wheat remained relatively steady over the last week, although it showed signs of a decrease this week.

Matif wheat for December hit €224.75/t on Thursday of last week. It fell to €220.75/t on Monday and, despite a bounce on Tuesday, was at €220.50/t on Wednesday afternoon.

Markets are closely watching talks between the US and Iran.

ADVERTISEMENT

Despite the fall in oil prices., oilseed rape recovered this week after a drop. The French oilseed rape price for November hit €530.25/t on Wednesday afternoon. It had fallen to €519.25/t on Monday.

There is still a lot of grain in stock across the country ahead of the harvest season.

Winter barley has gotten earlier and earlier with new varieties and weather, so a challenge lies ahead to clear stores here in Ireland. Wheat is in stock in many places.

The International Grains Council (IGC) increased its forecast for 2025/2026 production this month by 3m tonnes. Consumption was also raised 3m tonnes. This maintained stocks at 638m tonnes.

The forecast increase in 2025 production would equate to year-on-year growth of 6% according to the IGC, which is the fastest growth in nine seasons.

The IGC places 2026/2027 world grain production at 2,414m tonnes, down from the forecast for 2025/2026 of 2,477m tonnes. Wheat and maize production are both forecast down.

Reuters reported this week that Ukraine could harvest 22m to 23m tonnes of wheat this year, which is similar to 2025 figures.

However, some are reporting lower figures. The economy ministry reported that 12.27m tonnes of wheat were exported as of 25 May 2026, compared with 14.8m tonnes on 30 May 2025.

In the US, corn planting was 86% complete on 24 May, while 79% of soybeans had been planted. Both are ahead for the time of year.

Some 50% of US wheat was in good or excellent condition this week, leaving the crop split in two. The combines will tell how dry weather has affected some parts.

Some of the states in the Great Plains look to be badly affected such as Kansas and Nebraska.

Native prices

At home, price offers to farmers looked to be relatively stable at €205/t for green feed wheat and €195/t for green feed barley.

Oilseed rape for harvest 2026 is on offer for €500/t in some places and is worth a call.

Prices for dried feed wheat in November look to be around €230/t to €235/t and dried feed barley is around €10/t under. Imported maize looks to be matching wheat.

The Agriculture and Horticulture Development Board reported a November price of £202.50/t for dried feed barley out of Belfast, down £1/t on the week, while dried feed wheat for November was at £211.50/t, down £4/t in the week.