GrainGrain Market Reports

Grain Market Update 22nd July

Market Prices & News

MATIF Dec 22 wheat prices recovered earlier this week on the back of strong export demand for European wheat.

Native grain prices rose earlier this week but will likely finish on a similar note to last week.

The prospect of a deal being signed today (Friday 22nd) for grain export corridors in the Black Sea has re-exerted downward pressure on MATIF markets.

On Wednesday July 20th, Glanbia offered €285 for green barley and €295 for green wheat

Paris Nov 22 rapeseed prices have seen very significant price drops this week, closing at €647/t on Wednesday and €630/t on Thursday, July 21st, largely as a result of falling Chicago soybean future prices due to beneficial July rains (AHDB)

FOB Creil malting barley settled this week at €378, the rolling average price now sits at €424/t for this Boortmalt contract.

  September 2022 Green €/TNov/Dec 2022 Dried €/T 1  
IRL Feed Wheat295330-340
IRL Feed Barley285320-330
Paris MATIF Wheat333
Paris Oilseed Rape626
Paris Euronext Maize310

Global Grain Supply and Demand

The International Grains Council report for July has trimmed global grain output by a further 3MMT, largely on the basis of the European heatwave, total output is 1.8% lower than 21/22.

Strategie grains has estimated French soft wheat yields at 6.95t/ha, 2.5% lower than 2021, yields appear to less affected by drought than anticipated earlier in key northern production regions, harvest is progressing at an extremely rapid pace in France.

Ukrainian wheat yields are lower than expected earlier this season, due to hot dry weather according to official government statistics

Planting forecasts for Argentinian wheat continue to revised downwards due to dry weather, 6.1 million hectares are now estimated, which is down from the record 6.7 million hectares planted for the 2021/22 harvest (Reuters)

Energy Prices

Dutch natural gas futures have declined from the recent 4-month highs at the beginning of July to approximately €138/mwh this week but remain 11% higher month on month

Brent Crude oil futures for September 22 have increased 4% to $102.60/barrel this week, but are 8.5% lower month on month

  Monthly Change (%)
Brent Crude Oil Sep 22 ($/barrel)102.6-8.5%
Dutch TTF Gas Futures Sep 22 €/mwh138+11%

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