Tillage
The Boortmalt malting barley price for harvest 2020 has finished at €173.73/t.
The malting barley price to be paid to Boortmalt suppliers at harvest currently stands at €171.61/t.
Wheat prices lifted towards the end of the week. Matif wheat for September was at €191.50/t on Thursday evening, May 21.
Boortmalt growers now know what price they will be paid for their barley for the 2019 season.
This week, Teagasc estimated the Irish grain harvest at 2.1 million tonnes. This is behind the five-year average of 2.3 million tonnes.
It will come as no surprise that wheat production is set to increase from last year in Europe and the Baltic regions.
Harvest is well underway in parts of the world and crop yields are looking promising. The EU's short-term outlook report came out this week.
Agri-Business
US corn plantings are estimated to have increased from 2018, according to the USDA's acreage report released yesterday, June 28.
Malting barley farmers who supply Boortmalt will be looking at the Free-On-Board (FOB) Creil Planet price with interest.
Markets aren't looking like they're going to improve or move. Wheat stocks and corn production are up according to this month's USDA report.
Grain markets were showed little change from last week. However, the FOB Creil reached €191.00/t on Tuesday evening.
A positive in the market is the FOB Creil (two-row malting barley) price is holding its own and climbed over the week.
This week saw grain markets fall dramatically. Increased plantings are not helping the situation.
The grain market is doing nothing to enthuse farmers at the minute and the price for next harvest is reflected in this.
Grain markets all took a hit this week. The FOB (Free On Board) Creil price was no different. It finished the week at €185.00/t (July, 2019).
