Grain Market Report December 2017

Ollie Carter on 11 December 2017

Grain Market Update

Prices for grain remain largely unchanged over the past few weeks as trade has been sluggish worldwide. While there is plenty of supply, demand is poor and with maize currently trading at lower prices than wheat, this is keeping a base on EU wheat and barley prices. A tightening market in the EU for barley has meant that the price gap between wheat and barley is closing in, with only a €3 price difference between the two. 

Harvest Estimations for 2017/2018

Harvest concerns for 2017/2018 have continued to grow worldwide. With current wet conditions hampering the harvest in Australia, estimations for 2017/2018 have fallen 42% below the record harvest of 2016/2017. Brazil are also estimating a 6% fall in their corn and maize crop from the previous year and extreme dry conditions across Argentina and South Brazil has led to planting and development concerns for both corn and soya crops. The USDA have predicted a further decline in wheat production due to reduced area and crop production, however they are forecasting soya bean plantings to increase instead.
Despite the lack of optimism in the marketplace, it is predicted that current prices could see next season’s barley and wheat green harvest prices reach €150 to €155 per ton respectively.  
For more information or assistance, contact the Connolly’s RED MILLS Agronomy team.
Tags: barley, bean, beans, cereals, crop, crops, farming, harvest, maize, sowing, tillage, varieties, wheat