Market Prices and News
| Commodity | Dec 2024 Dried €/T1 | Nov 25 Dried |
| IRL Feed Wheat¹ | 235-240 | 235 |
| IRL Feed Barley¹ | 225 | 220 |
| Paris MATIF Wheat² | 216.75 | 227 |
| Paris Oilseed Rape | – | 480 |
| Maize ex. Port | 235 | 230 |
² Source: Euronext correct as of 20.11.24 12pm
MATIF wheat and other global grain futures fell significantly in the period from 8th November to 15th November. MATIF Dec-24 is currently trading at €216/t but traded as low as €210.75/t earlier in the month. CBOT wheat futures traded at a four year low.
AHDB noted a continuation of existing pressures such a Black Sea exports but the stronger US dollar and better weather across western European countries has pressurised prices globally in this period.
This week (Nov 18th) wheat markets have trended slightly higher on news of an escalation of conflict in Ukraine.
Native prices remain similar and more stable than global markets with dried wheat at €235-240/t and barley at €10-15 less. End users are reported to have largely finalised demand needs for the next few months.
Forward prices for native new crop (Nov-25), put wheat at €225/t dried with maize at €230/t ex. port.
Rapeseed prices remain strong, owing to high EU oilseed demand and lower production. A significant spread exists between nearby old-crop contracts and new crop contracts. MATIF May-25 closed on Tuesday Nov 19th at €533/t, while Aug-25 contract closed at €488.75/t.
Global Grain Supply and Demand
Harvest has fully commenced in southern hemisphere regions such as Australia, where wheat output is predicted to rise to significantly to 34MMT, up on the 25.9MMT produced last year (USDA).
In France, planting of winter cereals has recovered after a difficult start to the autumn campaign. Agri-Mer reported that as of the 11th November, 89% of winter barley was planted.
Wheat crops in the US remain in favourable conditions , with 49% of the winter wheat crop for harvest 2025 rated as good, this is the highest percentage in five years.
