GrainGrain Market Reports

Grain Market Report 28th July

Market Prices and News 

Grain prices have increased over the past 10 days due to uncertainty over grain exports in the Black Sea ports in Ukraine.

Large price gains took place in MATIF on Monday of this week due to Russian air strikes on port of Reni, located on the Danube, in total 26 port facilities have reported damage to date according to the deputy prime minister in Ukraine.

Global prices have slipped back steadily throughout the week, MATIF Sep-23 closed at €251.50/t on Thursday evening, down €13.25/t on Monday (July 24th) of this week.

Native green prices for feed barley and wheat have increased by approximately €15-17/t, Tirlan offered prices this week of €207/t for green barley and €222/t for green wheat.

Paris oilseed rape futures have seen losses during trading this week, Aug-23 futures have seen particular losses this week as the expiry date for the contract nears. MATIF Nov-23 futures are trading higher but have lost €18/t week on week. Crude oil, CBOT soybean futures and palm oil futures have all seen falls this week (AHDB).

FOB Creil malting barley for Boortmalt suppliers closed at €297/t on Wednesday of this week, the rolling average for this contract now sits at €276.06/t.

CommoditySeptember 2023 Green³ €/TNov/Dec 2023 Dried €/T¹
IRL Feed Wheat¹222260
IRL Feed Barley¹207245-250
Paris MATIF Wheat² 247.75
Paris Oilseed Rape²461.75
Maize ex. PortN/A
¹ Source: Irish grain industry sources
² Source: Euronext correct as of 28.07.23, 12.30pm
³ Source: Tirlan 25.05.23

Global Grain Supply and Demand 

The EU MARS report for July has trimmed overall EU forecasts for soft wheat and spring barley by -2 and -3% respectively, however, winter barley remained unchanged.

US crop conditions for maize and soya were rated as 57% and 54% good on July 23rd last, however, 59% of the national corn crop remains affected by drought (USDA).

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