International grain prices hardened slightly over the past week, as markets responded to concerns over possible winter kill in the US and central Europe, as well as possible quality concerns arising from heavy rain in parts of Western Australia where harvest is just beginning.

Last week’s HGCA report indicated that India may soon export wheat because the government is estimated to have had 30.1Mt of wheat in its stores on 1 November. This is more than double its official target, so exports are possible if this wheat cannot be sold on domestic markets.

Native prices rose slightly also, but mainly for positions into the new year. Spot wheat is largely similar at around €165 to €168/t. Nearby barley is slightly better, with prices now either side of €160/t in the market, depending on location and circumstances.

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Prices for May 2015 are currently a bit stronger, but largely flat. There are a few buyers about, but virtually no sellers and this is helping to support prices. So it is a sellers’ market for the time being, but one should not get carried away by this comment. May 2015 wheat is currently either side of €175/t – up a few euro on last week. And May barley is in a broadly similar situation at €165/t.

Looking beyond next harvest, November 2015 wheat is now in the €177 to €180/t bracket to the trade, with barley at €162 to €165/t. Again, both of these prices are driven by the trade and end users will generally pay at least €3/t more.

Last week, Dairygold offered its growers €132 for green barley for harvest 2015 and €144/t for green wheat. And on Friday of last week, Glanbia offered €166/t for dry barley for November 2015 and €180/t for dry wheat.