Grain price: Prices at home unchanged; yields poor
As more combines made it to the fields this week a bleak picture unfolded for winter barley yields. Crops cut in drought-hit areas were not performing well and the reality of a wet autumn, winter and spring hit home for many farmers.
It now looks like the majority, particularly from the midlands and north-east, will settle for a yield of 3t/ac and under, as many settle for 2.5t/ac.Also Read: Winter barley yields down significantly as harvest progresses
On a somewhat positive note, grain prices offered here at home remained stable – although still relatively low – and a slight rise was seen on world markets.
World wheat production forecast to decline
The International Grains Council announced Thursday, July 23, that it had reduced its global wheat production forecast by 5.6 million tonnes for the 2020/2021 season.
The reduction brings the forecast total production to 762 million tonnes and still leaves the global wheat crop 12.1 million tonnes above the demand prediction.
The biggest reduction comes from the EU-27, where wheat production was reduced by 2.8 million tonnes. The US followed with a reduction of 1.5 million tonnes.
UK winter barley yields
In the UK, data from Agriculture and Horticulture Development Board (AHDB) trials shows that the average yield of the control varieties of winter barley stood at 3.57t/ac or 8.82t/ha on July 22. Yields across regions varied from 2.77t/ac (6.84t/ha) in Lincolnshire to 4.36t/ac (10.78t/ha) in Hampshire.
Across the Atlantic, 69% of both corn and soybeans are reported to be in good or excellent condition. US corn price moved down slightly from last week, while wheat is slightly unsettled.
Drought in Argentina has caused wheat and maize production estimates to be reduced as planted area of both crops is expected to be down.
This week, Glanbia offered its suppliers €158/t for green wheat and €139/t for green barley. These prices do not include payments to co-op members or for quality bonuses.
On the continent, feed barley (delivered Rouen) was trading at €163/t on Friday morning, while Free-On-Board (FOB) Creil malting barley was at €175/t.