Grain price: Markets doing nothing to enthuse farmers out with drills

The grain market is doing nothing to enthuse farmers at the minute and as large amounts of grain remain in store around the country the price for next harvest is reflected in this.

Green feed barley for next harvest was priced at €145/t with some merchants last week, a reflection of current supplies. Meanwhile, the nearby futures were no more exciting.

LIFFE

LIFFE wheat for March started the week at £163.55/t (February 25), before dropping to £160.80/t on Tuesday (February 26).

By Wednesday (February 27) it had crept back up slightly to £162.45/t, but dropped again by close of business on Thursday to £161.40/t and remained there on Friday (March 1) afternoon.

MATIF

MATIF wheat for March told a similar story. It dropped significantly at the start of the week.

Having closed at €196.00/t last Friday (February 22), it dropped to €191.75/t on Tuesday (February 26) before climbing back up to €194.00/t on Wednesday (February 27).

Friday (March 1) saw the price drop significantly to €191.00/t.

CBOT

Chicago Board of Trade (CBOT) wheat for March continued its downward trajectory this week.

It finished at 486.75c/bu on Friday (February 22) and dropped to 466.75c/bu on Monday (February 25). By Wednesday it hit 461.00c/bu.

Thursday saw the March price take a significant tumble down to 452.00c/bu.

FOB Creil – two-row malting barley

The FOB (Free On Board) Creil price for two-row malting barley didn’t budge too much this week, but didn’t move in the right direction either.

Last Friday (February 22) the July 2019 price finished the week at €183.00/t.

On Monday (February 25) it dropped to €182.50/t and moved to €182.00/t, where it stayed from Tuesday to Thursday (February 26 to 28).

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