Market Prices & News
Grain prices rose earlier this week but daily gains have struggled to hold overall.
Markets fell yesterday in response to news that a deal on export corridors from Ukraine could be brokered next week.
Native green prices increased slightly this week, Glanbia offered €280 for barley and €290 for wheat respectively. Nov 22 Paris rapeseed futures have lost recently gained ground on news of the potential Ukraine corridors (AHDB).
The Irish winter barley harvest is now underway nationally, yield reports remain variable with some crops on light soils producing disappointing yields in Munster and south Leinster.
| September 2022 €/T | Nov/Dec 2022 Dried €/T 1 | |
| IRL Wheat | €290 | €335 |
| IRL Barley | €280 | €325 |
| Paris MATIF Wheat | €342 | €331 |
| Paris Oilseed Rape | – | €673.50 |
| Maize ex Port | – | €320-325 |
| Soya ex Port | – | €545 |
Global Grain Supply and Demand
Supply and demand remain finely balanced and is putting a floor in allowing prices to remain at historic levels. The world agricultural supply and demand estimates (WASDE) report was published this week by the USDA.
Wheat production 22/23 was revised downwards in the report for EU, Ukraine and Argentina as a result of hot and very dry conditions, decreases were offset by increases for Russia and a higher than anticipated harvested area in the USA.
Strategie Grains has revised EU forecasted wheat production down to 123.3MMT, down 5.2% on 2021, barley was also revised downwards by 4.8% on 2021. Should these estimates materialise, this will underpin current prices.
The USDA revised US maize production up by 1.14MMT, this bucked an anticipated of trend of lower planted acres and reduced yield potential.
Grain Committee & Policy News
Supply and demand remain finely balanced and is putting a floor in allowing prices to remain at historic levels. The world agricultural supply and demand estimates (WASDE) report was published this week by the USDA.
Wheat production 22/23 was revised downwards in the report for EU, Ukraine and Argentina as a result of hot and very dry conditions, decreases were offset by increases for Russia and a higher than anticipated harvested area in the USA.
Strategie Grains has revised EU forecasted wheat production down to 123.3MMT, down 5.2% on 2021, barley was also revised downwards by 4.8% on 2021. Should these estimates materialise, this will underpin current prices.
The USDA revised US maize production up by 1.14MMT, this bucked an anticipated of trend of lower planted acres and reduced yield potential.
