Grain price: No major movement recorded

Grain markets are remaining steady, but did take a slight decrease from the beginning to the end of the week.

Around the world

In the US, the maize and soybean harvest is progressing quickly. USDA (United States Department of Agriculture) reports show that 16% of the maize crop was out of the ground on September 23. 69% of crops are reported to be in good condition.

Russia’s total grain harvest this season has been estimated, by some reporters, at 105 million tonnes and sowing has begun in Russia once again.

The Ukraine’s wheat harvest finished at approximately 25 million tonnes.

LIFFE

LIFFE wheat took a rise from Friday’s price on Monday – reaching £177.70/t (€199.46/t). It hovered around this position all week and closed on Friday at £176.15/t (€197.80/t).

LIFFE wheat price for November:
  • Monday, September 24 – £177.70/t (€199.46/t);
  • Tuesday, September 25 – £176.75/t (€198.05/t);
  • Wednesday, September 26 – £177.90/t (€199.68/t);
  • Thursday, September 27 – £176.45 (€198.05/t);
  • Friday, September 28 – £176.15/t (€197.80/t).

MATIF

Having reached €203/t on Monday (September 24), the MATIF wheat price for December dropped to €201/t on Tuesday (September 25).

On Wednesday (September 26), the price stood at €201.25/t, while on Thursday (September 27) it had decreased slightly to €200.75/t. It hit €201.50/t on Friday afternoon.

CBOT

Chicago Board of Trade (CBOT) wheat dropped by 14c/bu from Monday to Thursday. The December price closed on Monday (September 24) at 527c/bu – this was a climb of 5.25c/bu from Friday (September 21).

The price declined steadily as the week went on.

CBOT wheat (December):
  • Monday, September 24 – 527c/bu (€166.72/t);
  • Tuesday, September 25 – 520.75c/bu (€164.81/t);
  • Wednesday, September 26 – 517.50c/bu (€163.87/t);
  • Thursday, September 27 – 513c/bu (€162.29/t);
  • Friday, September 28 – 509c/bu (€161.09/t).