Agri-Business
Grain prices dropped back this week, but are still strong. Matif wheat for December was at €206/t on Friday afternoon (October 30).
Tillage
This week saw the second major announcement of grain prices for Harvest 2020 here in Ireland and also saw the markets stay in positive form.
Glanbia Ireland has announced its grain prices for 2020. No doubt more grain buyers will follow in the coming days.
This week saw the first official announcement of Harvest 2020 grain prices by an Irish grain buyer.
Grain markets took the rise farmers had been waiting for this week ahead of the release of the WASDE report on Friday.
Irish farmers continue to wait on a concrete price for harvest 2020 grain, apart from grain that was sold forward during the year.
As Irish farmers await a harvest price for their grain they are keeping a close eye to markets around the world.
Prices remained positive this week. Matif wheat for December hit €188/t and €190.50/t for May 2021.
Prices have been increasing over the past few weeks and on Thursday evening, the UK, French and Chicago wheat all moved upwards.
The harvest is a struggle but, on a positive note, wheat prices moved in an upward direction this week.
Grain prices weren't moving anywhere fast this week as the WASDE report didn't bring a lot of fresh news to the market.
Wheat and corn moved down this week. Corn is expected to be plentiful this season.
Rain this week meant that little harvesting took place here in Ireland. On the markets, wheat prices declined this week.
Markets looked a bit brighter this week and Glanbia increased prices offered to growers.
The harvest is now underway in many parts of Europe, but a clearer picture will develop as the season progresses.
The increase in price of US corn was welcome as low-priced corn has been shown to decimate prices here in Ireland in the past.
Grain markets were stable this week. However, the Chicago Board of Trade (CBOT) corn took a slight drop on Thursday evening to 317.25c/bu.
Grain prices did nothing to excite anyone this week. The MARS bulletin forecast a decline of 2% in winter cereal yields.
This week saw wheat prices decline during the week across LIFFE and MATIF markets.
Grain markets took a dip in the middle of the week, but began to recover on Thursday. Weather is playing a role in prices.
Wheat prices lifted towards the end of the week. Matif wheat for September was at €191.50/t on Thursday evening, May 21.
News this week does not bode well for Irish grain prices. Global corn production is forecast to be record-high.
Paris wheat prices jumped this week. Nearby wheat was at €207/t on Friday afternoon, while the September price was at €186.25/t.
