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.
IFA President Joe Healy has expressed his shock at the untimely death of the Vice-Chairman of the IFA National Grain Chairman George Mason over the weekend.
Prices for Irish dried spot wheat are unchanged for the week at €215/t. Jan-Apr values are €2/t lower at €218/t. Barley has slipped and is now trading at parity with wheat. Spot values are down €1/t to €215/t and post Xmas down €2/t to €218/t. Quotes for spot maize and Jan – Apr are up €1/t, while nearby soya prices are up €2/t and €3/t on a run from Jan – Apr.
The volatility in world grain markets at the end of last week, understandably had an effect on domestic feed prices. The biggest influence has been the drop in maize prices by €5/t, due to an increase in Ukrainian production and the continuation of positive harvest reports from the US. Due to its proximity to the Irish market the planned closure of a second ethanol plant in the UK which was using a lot of feed wheat did not help sentiment either. However, despite a slight softening in spot wheat and barley prices, quotes for January to March have remained stable.