Grain Trends: prices move up

Grain prices have been taking a steady rise over recent weeks. For example, nearby French wheat climbed €8/t over two weeks. That price closed at €229.50/t on Friday 13 December and on Wednesday afternoon, it was at €233.50/t.

Looking ahead to December 2025, the price that relates best to the Irish harvest price, it increased as well and was at €228.50/t on Friday and €230.50/t on Wednesday.

Wheat prices in the UK also increased, while in the US wheat prices dropped slightly, while maize prices increased.

There were some big purchases of grain in the market, which likely supported prices.

There are also reports that Russian wheat exports could slow down. There does look to be good supplies of wheat and barley from Australia, which will add to world supplies. In Argentina, harvest was reported at 58% complete last week.

Interestingly, the European stock exchange Euronext suspended physical delivery of the rapeseed February 2025 contract. This is because the Mosel River in western Germany was shut due to an accident.

Reuters reported that the river is an important one for grain and rapeseed shipments. The accident caused damage to a lock.

The river is expected to be closed to cargo shipping until spring 2025. Reuters reported approximately 70 ships are blocked and this is causing delivery disruption.

Oilseed rape

Oilseed rape prices jumped up last week. The French price for February increased by €21/t to €547/t. On Wednesday afternoon, it had dropped and was at €527.50/t, almost back to where it was before its climb last week.

Last week, the US Department of Agriculture revised Canadian rapeseed production down 1.2m tonnes from its November report.

The Agriculture and Horticulture Development Board (AHDB) reported that oilseed rape supplies are tight, which provides some support for prices, but an expected record soybean crop from South America is weighing on prices.

Native prices

Although a lot of the market at home looks to be well fed into the new year, prices look to have lifted on the back of increases in Europe.

Prices at home were on the up this week. Spot barley was reported at approximately €230/t and spot wheat was somewhere between €240/t and €245/t. Maize into the country also rose to €240/t, which is good to keep competition away from Irish barley. Soya into the country is trading at around €385/t ex-port.

In Northern Ireland, the AHDB reported £197/t for spot barley, £214/t for spot wheat and £335/t for soyameal.