Grain prices stayed relatively stable last week, though there were plenty of ups and downs along the way.

The highest price reached over the week for French wheat in December was €232/t on Friday and it was at this price again on Wednesday afternoon, 12 August.

UK and US wheat followed a similar trend, although US wheat jumped by over 21c/bu on Wednesday afternoon to hit 669.50c/bu.

ADVERTISEMENT

Attacks in Ukraine and Russia continue to impact markets as grain is not moving easily out of these regions.

Reports suggest that there are large amounts of grain to move out of the Black Sea region, so when it does make it onto the market it has the potential to push prices downwards.

War in the Middle East also impacts prices. Oil prices increased and rapeseed did as well. On Tuesday of last week November French rapeseed was at €518.75/t.

It climbed up to Monday of this week to €538.75/t and remained relatively stable to Wednesday afternoon when it was at €535.25/t.

US crop reports

The World Agricultural Supply and Demand Estimates report was due out on Wednesday evening, and there were reports of some traders selling to make profits or insure themselves ahead of that report.

The August report gives a good picture of US crops and production forecasts.

The Pro Farmer Crop Tour takes place in the US Midwest next week. That’s the tour that the Irish Farmers Journal attended last year.

That will give a good picture of what’s happening on the ground and see how it compares to the figures already out there.

Malting barley

The Irish Farmers’ Association (IFA) has called on Boortmalt to remove the €10/t surcharge on malting barley purchased in 2026.

Grain chair John Murphy said dry grain has reduced costs for assembly this year.

He said there is very little difference between malting and feed barley prices now, and that growers would question growing grain in Ireland due to low incomes, see more on page 8.

Native prices

At home, spot barley (dried) is reported at around €225-230/t, while spot wheat is at €235-240/t.

November barley and wheat are about €5/t ahead of these prices.

Good demand is being reported for barley. Maize is currently trading at around the same price as feed wheat into the country.

The high prices of recent weeks have fallen back, but there will be peaks and troughs and opportunities to sell at high prices.

Very few people are likely to have made sales at the last big peak on 23 July, but it might pay off to sell a portion when these opportunities arise.