Grain prices largely softened again over the past week, with international prices weakening on the back of high harvest expectations and reasonable corn planting progress in the US. In its most recent production forecast, the International Grain Council indicated global maize production to increase by 10Mt (941Mt) relative to its estimate a month ago. But its forecast wheat production was 4Mt lower than March.
And if this wasn’t enough, it seems like the Canadians appear set to opt out of a proportion of their canola in favour of barley (+10.2%) and thus add to the feed pile. A recent HGCA report suggests that China is likely to produce more maize this coming season, with soya likely to be the crop that will lose out.
Back home, lack of demand continues to be the main influence in the market. Feeding levels have increased in places, but there has been no big surge in demand that will impact on the current carry levels.
With May just upon us, spot prices have effectively drifted into May/June positions. Wheat for these positions has weakened, with €177 to €180/t now the market indication. Barley remains in the €160 to €165/t bracket because it is so cheap to begin with, but it is not in big demand due to the general lack of new demand.
These prices reflect the fact that imported maize has slipped back to around €180/t once again.
New crop price indications are broadly similar, with €178 to €180/t the current talk in the trade for November wheat and €161 to €163/t for barley. These price movements reflect the Dairygold green price offers last week of €129/t for barley and €145/t for green wheat for harvest.
Grain prices largely softened again over the past week, with international prices weakening on the back of high harvest expectations and reasonable corn planting progress in the US. In its most recent production forecast, the International Grain Council indicated global maize production to increase by 10Mt (941Mt) relative to its estimate a month ago. But its forecast wheat production was 4Mt lower than March.
And if this wasn’t enough, it seems like the Canadians appear set to opt out of a proportion of their canola in favour of barley (+10.2%) and thus add to the feed pile. A recent HGCA report suggests that China is likely to produce more maize this coming season, with soya likely to be the crop that will lose out.
Back home, lack of demand continues to be the main influence in the market. Feeding levels have increased in places, but there has been no big surge in demand that will impact on the current carry levels.
With May just upon us, spot prices have effectively drifted into May/June positions. Wheat for these positions has weakened, with €177 to €180/t now the market indication. Barley remains in the €160 to €165/t bracket because it is so cheap to begin with, but it is not in big demand due to the general lack of new demand.
These prices reflect the fact that imported maize has slipped back to around €180/t once again.
New crop price indications are broadly similar, with €178 to €180/t the current talk in the trade for November wheat and €161 to €163/t for barley. These price movements reflect the Dairygold green price offers last week of €129/t for barley and €145/t for green wheat for harvest.
SHARING OPTIONS