Delany Warns Growers to Hold Their Nerve as Markets Continue to Harden

IFA National Grain Committee Chairman warned growers not to be conned into accepting low prices for his year’s grain as world markets continue to strengthen. With harvest under way a number of trade players are attempting to talk down prices.

Mr. Delany said, “Cereal prices continue to improve this week as extremely tight maize carryover maize stocks coupled with prospects of a much reduced US maize crop underpins the feed barley and wheat market. Many buyers are privately acknowledging that green feed barley (at 20% moisture, excluding vat) will be at least €160/t off the combine, with wheat at least €5/t over barley.”

“New crop Irish dried feed wheat prices are being quoted from €195/t to €197/t collected ex store, with barley €5/t to €7/t under wheat. A number of buyers are actively purchasing milling wheat. Grade 2 milling (9% protein, 220 hagberg) is trading from €190/t to €192/t at 20% moisture excluding vat. An export opportunity has developed for oats with €192/t on offer collected ex store.”

“Growers need to remain vigilant as prices move on a daily, if not hourly basis. It is important to check out prices before making a decision and not be talked into off loading grain below its market value.”