Wheat prices increased slightly this week, but remained around the same range as the past few weeks.

On Friday 13 October, Matif wheat for December finished at €237.25/t, up €3/t in the week, although it had fallen to €231/t on Wednesday 11 October. By Tuesday evening 17 October, that price was at €236/t.

Reports of tighter supplies of wheat failed to cause any jump in prices and competitive grain from the Black Sea continues to stop any significant rise in prices.

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Maize and oilseed rape followed similar trends last week, although nearby French rapeseed prices dropped by over €5/t at the beginning of the week.

However, 2024 rapeseed prices did not fall. On Wednesday afternoon, French rapeseed for November was at €421.75/t. This move downward may be due to pressure to sell as the contract comes to an end in a few weeks.

WASDE

Wheat and barley production were estimated down in this month’s World Agricultural Supply and Demand Estimates (WASDE) report, while maize production is expected to be higher for the 2023/2024 season.

However, the watch point for many is soya. Soya bean stocks were estimated down in the report. In the US, the harvest was 62% complete as of 15 October. However, soya bean production is estimated down by 1.1m tonnes, which is supporting prices.

A rise in oil prices due to the conflict in the middle east is also likely contributing to an increase in soya bean prices.

In the US, the November price for soya beans on the Chicago Board of Trade went from 460.17 cents per bushel (c/bu) on 11 October to 476.43c/bu on 17 October.

At home, the price for soya was reported at approximately €535/t, up from €500/t in the past couple of weeks.

Tirlán prices

Tirlán announced its prices for harvest 2023 last Wednesday 11 October. The prices are detailed on page 8 this week.

With a trading bonus of €10/t and a standard transport allowance included, the total price for green barley (20% moisture content) comes to €205/t, while €215/t was paid for wheat.

The trading bonus will be paid to all suppliers, not just shareholders.

The majority of grain buyers are now settling prices and paying out the remainder of the grain cheque to farmers. Let us know your final price at tillagenews@farmersjournal.ie.

Spot prices

Spot barley at home look similar to last week with reports of around €225/t for dry barley and €235/t for dry wheat.