Grain price: Markets looking more positive
Grain markets showed little change from last week. However, the Free On Board (FOB) Creil reached €191.00/t on Tuesday evening, although it did drop back to €189.00/t by Friday.
As reported in AgriLand‘s last Grain Price Report wheat plantings in the US are at their lowest in 100 years. However, the crop condition is good. Recent reports from the United States Department of Agriculture (USDA) show that 56% of the winter wheat crop is in good to excellent condition.
At the same time last year 32% of the winter wheat crop was in good to excellent condition. So while the area sown to winter wheat may be down by 3%, the crop condition currently looks promising.
LIFFE wheat closed on Monday, April 1, at £163.80/t and while it did move to £164.00/t on Tuesday it dropped back to £163.75/t on Wednesday, before hitting £163.50/t on Thursday and landing on £163.00/t on Friday afternoon.
MATIF wheat for May finished at €187.00/t on Monday, April 1, before moving slightly to €187.25/t on Tuesday, April 2, and €188.50/t on Wednesday, April 3.
It took a brief jump to €189.50/t on Thursday, but had returned to €188.50/t by Friday afternoon.
Meanwhile, the December price was at €179.75/t on Friday afternoon.
Chicago Board of Trade (CBOT) wheat for May climbed during the week. On Monday evening, April 1, it closed at 462.75c/bu. It then moved to 464.00c/bu on Tuesday, April 2, and reached 471.00c/bu on Wednesday evening.
It finished at 470.6c/bu on Thursday evening.
FOB Creil (two-row malting barley)
The FOB Creil (July 2019) finished the day on Monday, April 1, at €189.00/t. On Tuesday, April 2, it made it to €191.00/t, before dropping back slightly to €190.00/t on Wednesday, April 3 where it remained on Thursday, April 4.
By Friday it had returned to €189.00/t.