Grain prices were not in a good place this week, as farmers started to harvest crops here at home.

As an example, the French Matif wheat price for December closed last week at €208/t, down from €219.50/t the week before.

On Tuesday evening, that price dropped to €205.75/t and was up slightly on Wednesday afternoon at €206.25/t. Tuesday’s price was the lowest price for December in the year so far.

Harvest pressure is now hitting markets, with crops being cut in many places across Europe and the US.

The strong euro is also making it difficult for EU grain to be competitive. In France, yield reports for winter barley appear to be good and the winter wheat harvest is now under way.

Agritel reported this week that yields are “still considered decent” for winter barley, adding that the Creil price for winter malting barley dropped nearly €30/t in just a few days, which it said was a sign of increased availability.

French maize prices also dropped this week and the November price moved below €200/t.

In the US, 73% of maize crops were reported to be in good or excellent condition as of the US Department of Agriculture’s report on 30 June, with 37% of winter wheat crops harvested, 5% below the five-year average.

Malting barley

There has been no update on Boortmalt’s suggested contract cuts.

IFA grain committee chair Kieran McEvoy told a meeting in Carlow on Tuesday that the IFA is saying no to contract cuts. He said Boortmalt will “have to find a home for that barley somewhere”, noting that agreements were in place.

McEvoy said: “The worst crop you can ever have is a malting barley crop that fails.”

See more from that meeting on news page 6.

Markets analysts will be watching what happens, with possible trade deals between the US and different countries and the level of tariffs being imposed as the 9 July deadline approaches. European Commissioner for Trade Maros Sefcovic travelled to Washington this week for talks.

Native prices

Looking at prices at home and dried barley is reported at €210/t to €215/t for November. Wheat is at €220/t to €225/t for the same time. Imported maize for November was reported at around €210/t.

The lower trading of maize compared with barley could put pressure on prices here, as Irish cereals will be competing with that maize.

At present, soya prices into the country are reported at around €320/t. All of those wheat, barley, maize and soya prices are at their lowest points for the year so far.