Native grain prices remain unchanged from last week. There will be little activity over the coming weeks until action returns in January. Unfortunately, the Ukrainian maize harvest has been revised upwards by 1 million to 35 million tonnes which could create extra import pressure. However, China is in talks with the Ukraine regarding increased imports of the product which could alleviate the problem.
Prices for Irish dried spot wheat and barley have eased slightly in recent days however wheat continues in a range from €214 – €220 while barley is slightly stronger at €216 – €222 depending on whether there is specific demand or not. Jan-Apr values have held steady while forward 2019 prices remain around €190 for barley and €195 for wheat.
There was no significant change to domestic grain prices in the past week. Imported corn (maize) continues to keep a lid on the price of Irish wheat and barley. According to recent data from the European Commission 582,658 mt of corn was imported into the EU last week, which was the biggest single week of imports since March 2017. Ireland alone accounted for 46,658 mt of the volume imported. It takes total imports to 6.6 mt for the season so far, up 24% from last year as EU buyers’ source cheap Ukrainian and Canadian product.