Agri-Business
Grain markets began to move in a more positive direction this week.
Tillage
Grain markets moved down this week from the highs reached almost two weeks ago.
Wheat prices have been rallying. LIFFE wheat for May hit £158.70/t on this week, while MATIF wheat for May hit €196.50/t.
While wheat markets have shown increases over the past number of weeks it is important to proceed with caution when deciding on grain sales.
The rain of the past few weeks has stopped any further winter sowing and estimates now put winter cereal area at 50% of last year's area.
Grain markets remained unenthusiastic this week and future prices for November and December are not exciting anyone.
Traders and markets across the world are beginning to focus on new crops. Meanwhile, in Ireland, there is plenty of last season's crop in sheds.
After a pessimistic start to the week, prices climbed towards the weekend. Fears of drought in Europe contributed to this improvement.
Wheat prices fell dramatically over the course of the week. Weather conditions are improved in the US and Europe and supplies are aplenty.
Grain markets were showed little change from last week. However, the FOB Creil reached €191.00/t on Tuesday evening.
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.
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.
AgriLand's last grain price report was published on December 21, 2018 and things haven't changed much since on the markets front.
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.
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.
