Grain Market Update 30th March
Market Prices and News
Grain markets have recovered this week. MATIF May 23 closed on Wednesday March 29th at €266.25/t an increase of €20/t versus Thursday of last week.
Global wheat markets have responded due to Russian media reports suggesting that Russia wanted to ensure prices above the cost of production for producers. Additionally, Cargill and Viterra have committed to stop exporting grain from Russia for 2023/24 (Reuters).
Drought concerns in key wheat producer Kansas have also provided support this week.
Native dried wheat prices have increased by €10/t on the week to sit at €270/t. Nov/Dec 23 new crop wheat prices are trading at the same price as old crop.
Tirlan offered €217/t and €227/t for Sep-23 green feed barley and wheat this week, a rise of €7/t on the week. MATIF rapeseed prices have recovered strongly this week, the May-23 contract closing on Wednesday March 29th at €479.50/t. Worse than expected soya yields in Argentina have pushed oilseed prices back up this week (AHDB).
|Commodity||March/May 2023 Dried €/T||September 23 Green €/T||Nov/Dec 2023 Dried €/T|
|IRL Feed Wheat¹||270||227||270|
|IRL Feed Barley¹||260||217||N/A|
|Paris MATIF Wheat²||267.50||–||269|
|Paris Oilseed Rape²||480||–||484|
|Maize ex. Port¹||275||–||265|
¹ Source: Irish grain industry sources
² Source: Euronext correct as of 30.03.23