| Commodity | €/t Feb/March 2025 | €/t Nov/Dec 25 Dried |
| IRL Feed Wheat¹ | 245-250 | 240-245 |
| IRL Feed Barley¹ | 235 | 230 |
| Paris MATIF Wheat² | 233.75 | 239.75 |
| Paris Oilseed Rape | – | 491.50 |
| Maize ex. Port | 245-250 | 245-248 |
² Source: Euronext correct as of 12.02.25 10am
Market Prices and News
MATIF wheat futures remain firm since the last market report. MATIF futures for May-25 were up 1.7% in the period from 31st January to February 7th (AHDB).
This week weather concerns now exist in the Black Sea wheat regions, with a dry autumn, milder temperatures and low snow cover reported. This has underpinned European wheat markets in recent weeks.
CBOT US maize futures have recovered in recent weeks, with some futures contracts breaking above $5/bushel. The planted area of maize in the US and the threat of future tariffs on key importers such as Mexico could all heavily impact price direction over the coming months.
Native prices for dried wheat and barley remain firm. Nearby spot wheat is put at €245-250/t with barley at between €235/t. New crop wheat for Nov-25 is put at €240-245/t respectively.
Green price offers announced in recent weeks include €210/t for green barley from Liffey Mills delivered to an intake – offer open until 21st February.
Feed bean prices range from €240/t to €250/t, with the higher quote being a delivered price.
Boortmalt have announced the first forward offer for malting barley; €230/t at 20% moisture for up to 20% of a contract.
MATIF rapeseed remains firm owing to high demand and low EU production. May-25 futures increased last week to as high as €523/t, but fallen back slightly this week to €520-522/t upon news of higher US soybeans stocks. New crop futures (MATIF Nov-25) remain firm at between €485-490/t. Ex. farm prices for new crop oilseed rape reported to IFA in recent weeks range from €457-475/t at 9% moisture.
Global Grain Supply and Demand
Figures from the French Ag Ministry show winter wheat area is now 4.57million hectares which above estimates of 4.51mha in December. This is 10% up year-on-year. The oilseed rape area has dropped to 1.27mha down 4% on 2024, with winter barley down 2.1% on the year.
Analyst IKAR has forecast that Russian wheat exports will drop to 43MMT due to unfavourable weather conditions, while SovEcon estimates 42.8MMT.
WASDE January Highlights
Global maize stocks are at 290.3MMT – a 10-year low.
Maize production in Brazil and Argentina was reduced by 1MMT due to unfavourable weather conditions.
Global wheat production for 2024/25 was increased marginally by 0.6MMt to total at 1,061.3MMT.
Wheat ending stocks were lowered by 1.3MMT to 257.6MMT
