GrainGrain Market Reports

Grain Market Update 5th August

Market Prices & News

MATIF Dec 22 wheat prices remain slightly lower (2%) than this day last week.

The first ships setting sail from the port of Odessa on Monday of this week caused prices to weaken.

Native dried wheat and barley prices remain in a similar bracket to last week at €345 and €330/t depending on the day.

Paris Nov 22 OSR prices remain volatile as result of price variability in the wider oils complex (AHDB).

FOB Creil malting barley settled this week at €375, the rolling average price now sits at €418.82/t for this Boortmalt contract.

The Irish harvest is progressing smoothly, oat yields appear to be good to very good with grain quality very acceptable.

Winter wheat and spring barley crops are now fit for harvest in Munster and mid/south Leinster. Very early indications suggest yield and quality are promising.

  September 2022 Green €/TNov/Dec 2022 Dried €/T 1  
IRL Feed WheatN/A345
IRL Feed BarleyN/A330
Paris MATIF Wheat328.25
Paris Oilseed Rape646.50
Maize ex. Port335

Global Grain Supply & Demand

Rapid harvest progress and high global demand for wheat is facilitating rapid grain exports from Europe.

The overall Ukrainian harvest is now expected to come into 65-67 million tonnes (MMT) according to official government statistics, up from the 60MMT expected. The 2021 harvest produced a record 86MMT.

USDA crop conditions for corn rose 1 point to 61% good/excellent last week, the first corn yield outlook will be published later this evening and will be a watchpoint for the market.

Grain Committee News & Policy

IFA made a submission with proposals on maintaining the tillage area for 2023 to the sub group of the National Fodder and Food Security Committee.

The National Grain Chairman also discussed amendments to the shallow stubble cultivation rules with officials in the Nitrates Division of DAFM this week.

The amendment now exempts the need for shallow cultivation in the following cases:

  • Where the farmer is certified organic
  • Where root crops or late harvested crops have been harvested (crops typically not harvested before late September)
  • Where a cereal crop or beans has been harvested after 15th September or where a cereal crop has been undersown with another crop
  • Where a winter cereal crop, oilseed rape or beans is due to be sown on the land by 31 October

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