Market Prices and News
| Commodity | September 2024 Green €/T | Nov/Dec 2024 Dried €/T |
| IRL Feed Wheat¹ | 200 | 230-233 |
| IRL Feed Barley¹ | 180-185 | 215-220 |
| Paris MATIF Wheat² | – | 229.25 |
| Oilseed Rape | 445-450 | 480-485 |
² Source: Euronext correct as of 24.07.24 2pm
Global wheat prices held in the week ending Friday July 19th. MATIF Dec-24 gained €2.25/t while LIFFE futures in London lost £0.20.
Downward pressure continues to be exerted on global wheat markets by the rapid pace of the US wheat harvest and an improved crop outlook for Russian wheat.
However, MATIF and European markets remain more supported on news of disappointing harvest results to date and slow progress across much of western Europe.
A flurry of activity in the wheat tender market by key wheat importers held prices steady last week also according to the AHDB.
No price offers have been issued by Tirlan this week.
Native prices reported to IFA remain largely unchanged since the last report with green feed barley at €180-185/t, green wheat at €200/t.
The FOB Creil closed at €252.50/t last week, this brings the average to €262.97/t for Boortmalt suppliers.
Paris oilseed rape prices increased by €14.75/t last week to close at €494/t (Dec-24) on Friday July 19th. Prices rose further to close at €501.50/t on Monday but the Dec-24 contract has fallen back to €493/t at the time of writing.
Global Grain Supply and Demand
German agri-cooperative association (DRV) has said that winter barley yields will be 6% lower with lower specific weights due to higher summer rainfall. The same group also stated that German oilseed rape output could fall by 10% in 2024.
In the EU Commission MARS report for July, soft wheat yields were unchanged, but winter barley estimates were lowered by 3.4% to 5.76t/ha. Spring barley yields were revised upwards by 1% to 4.44t/ha, this is 9% higher than the five-year average, due to favourable conditions in Spain.
Oilseed rape yields are estimated at 3.10t/ha down from 3.16t/ha last month.
The condition of French soft wheat crops was reported at an eight-year low last week with only 52% rated as good (AgriMer).
Progress in the Brazilian Safrinha maize harvest remains significantly ahead of normal, with 83% harvested in key central and southern regions (Reuters).
