GrainGrain Market Reports

Grain Market Update 13th May

 Spot Price €/T 1% Change vs Previous MonthGlanbia September 2022 Green €/TNov/Dec 2022 Dried €/T 1 
IRL Feed Wheat410-415-1%342387-390
MATIF Wheat407.50
IRL Feed Barley415-2.5%332377-380
Oilseed Rape Paris2834
Maize Ex. Port 380+1%360
¹ Source: Irish grain industry sources, Glanbia
² Source: Euronext correct as of 13-05-22

Market Prices

New crop grain prices have increased significantly again this week on the back of the May WASDE report from the USDA. Old crop positions (e.g. May 22) are now ending on Paris markets.

Markets remain heavily influenced by the war in Ukraine but other additional weather concerns are developing in France, India and Brazil this is combined with slow maize planting pace in the USA.

Glanbia green feed wheat and barley prices increased further this week to €332 and €342/t respectively.

FOB Creil malting barley settled at €446/tonne for week 5, rolling average for Boortmalt suppliers stands at €414.60/tonne.

Soya meal markets have cooled on the back of high crush numbers globally due to large oilseed demand. Large global production is expected in 2022/23.

WASDE Global Stocks + Supply 21/22 3

 Million Metric TonnesYearly Change (%)
World wheat supply774.8-0.6%
Wheat ending stocks 267-5%
World Maize Supply 1180.72-3%
Maize Ending Stocks305.3-1.4%
World Soybean Meal256.52N/A
³Source: USDA Word Agricultural Supply Demand Estimates

Grain Committee & Policy News

A National Grain Committee meeting will take place in the Farm Centre on May 24th, elections for the vice chairperson and positions on the management committee will be held.

The European Food Safety Authority and European Chemicals Agency are due to meet at the end of May to discuss the hazard classification status of glyphosate. The conclusions from the peer review of the submissions made during the public consultation were originally expected in July 2022 with a vote by December. However, it now appears the results of this review will not be available until July 2023.

Global Grain Supply and Demand

Global wheat stocks remain at a six year low according to the May WASDE report issued by the USDA.

Russian wheat exports are expected to increase by 18% in 22/23 compared to the 21/22 crop which affected by dry weather.

Ukraine wheat production for 22/23 has been forecast at 21.5 MMT by USDA down 35% on 2021/22.

Ukraine maize production for 22/23 has been forecast to drop by 54% according to the USDA.

US corn yield is projected at 177/bushels/ac down from 181(-2.3%) in February (USDA).

Brazilian total maize crop forecasts have been revised down by 1% by CONAB due to dry weather concerns but the overall total remains a record tonnage.

Dry weather in France is now a concern for 2022 soft wheat crop according to ARVALIS research institute.

Energy Markets

 Spot Price % Change vs Last Week% Change year on year
Dutch TTF Gas Futures     €/MwH95-1%352%
Brent Crude Oil ($/barrel)109.12-3%158%
Source: Yahoo Finance, correct as of 13/05/22


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