Wheat markets moved upwards this week. French wheat for December 2026 hit €247.50/t on Tuesday evening, but as farmers put winter cereals in the ground, we need to look at the 2027 prices. December 2027 wheat was at €240/t.

Corn is an interesting one. French corn for November 2026 has risen after a dip. On Tuesday evening it hit €277/t. November 2027 corn was at €234.25/t at the same time.

Corn production is down in the EU this year and imports are increasing as a result. Argus Media reported that “US-origin corn is particularly sought after”.

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French oilseed rape for November 2026 dropped dramatically on Tuesday by €14.50/t to €523/t.

The February price was at €561/t, while the November 2027 price was at €540.25/t.

The Black Sea

Disruption to trade in the Black Sea is likely helping these prices. The Agriculture and Horticulture Development Board (AHDB) reported that: “Ongoing disruption to Black Sea trade continued to underpin prices in Europe.”

The AHDB also reported that the Ukrainian farm minister said winter wheat planting could fall by 17% due to difficulties from the conflict.

Argus Media reported “that attacks on merchant vessels have once again highlighted the tensions and logistical difficulties that remain in the Black Sea region”.

US prices

US prices had declined last week, but were increasing this week. Last week, US corn stocks were reported up 35% year-on-year.

The value of the dollar was also up. The World Agricultural Supply and Demand Estimates report for this month is due out on 9 October.

The US Crop Progress Report placed 83% of corn at mature as of 4 October, while 23% of crops are reported to be harvested, slightly behind the five-year average. One quarter of soybeans were reported to be harvested, 8% behind the five-year average.

Flat rate of VAT

If you are not registered for VAT, the flat-rate VAT refund on grain will increase to 4.8% in 2027, according to Tuesday’s budget. That’s back to the level it was at in 2024. It was at 5.1% in 2025 and decreased to 4.5% in 2026.

More prices

Merchants across the country are now settling their harvest prices. The majority of grain in the country is bought from farmers by private businesses and merchants rather than co-ops.

To get a better picture of what farmers are being paid for grain, we would like to get more prices. If you can share the grain, protein or oilseed rape prices you are being paid, email swalsh@farmersjournal.ie. We will not share your details, but would like dockets or receipts to prove the price, along with bonuses being paid.