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.
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.