Tillage
Grain markets moved down this week from the highs reached almost two weeks ago.
Paris rapeseed futures reached their highest price since March 2017 this week. On Tuesday, the February price closed at €416.50/t.
Grain markets remained unenthusiastic this week and future prices for November and December are not exciting anyone.
After a pessimistic start to the week, prices climbed towards the weekend. Fears of drought in Europe contributed to this improvement.
Agri-Business
Wheat prices fell dramatically over the course of the week. Weather conditions are improved in the US and Europe and supplies are aplenty.
Wheat prices continue to lack excitement - the lack of movement of grain in the EU is a factor in this.
In Australia, hot and dry weather is being forecast for the coming months in the western part of the country.
Grain prices aren't moving anywhere fast, but figures from the Australian harvest might let Irish farmers feel somewhat better about the tough year gone by.
On Wednesday, the LIFFE wheat price for January dropped below £170.00/t for the first time since November 30.
Markets remained steady this week and while prices dropped slightly, this drop wasn't significant and added to the recent trend.
Wheat price took a tumble this week. Both LIFFE (January) and MATIF (March) wheat dropped from the start of the week.
It is unclear what impact the predicted weather of 2019 could have on grain supply worldwide, if any, as planting has increased in many areas.
There is a 75-80% chance of a weak El Nino forming within the next three months which could impact on 2019 crop performance.
Grain prices were largely in the green at the end of last week. Meanwhile, planting is up in parts of the Black Sea region.
The impact of Brexit was seen on UK futures this week. The rise in sterling following the announcement of the draft deal saw prices drop.
LIFFE wheat for November tumbled into the red this week. The price dropped by over £5/t over the course of this week.
Last week saw grain prices take a hit. MATIF milling wheat hit a low of €198.50/t - its lowest since September 17, when it hit €198/t.
While markets didn't move in any way dramatically during the week, one way they did move was down. Wheat markets all took a slight tumble.
Grain markets showed no major moves last week. The USDA also released its supply and demand estimates for October.
Grain markets are slightly sleepy at present with little movement taking place. Meanwhile, sowing is in full swing across the continent.
Grain markets are remaining steady, but did take a slight decrease from the beginning to the end of the week.
Grain prices finished on a relatively positive note on Friday. LIFFE wheat for November closed the week at £176.35/t.
Grain prices didn’t look like they would take any dramatic turns this week; but Friday morning saw the LIFFE wheat price go below £175/t.
