There were no big improvements to grain markets this week. The December French wheat price finished €2/t down on the week previous last Friday at €206/t and was up slightly on Wednesday morning this week at €207/t.

London prices dropped slightly last week, but have since recovered to near the previous week’s close. On Wednesday morning the London November price was at £177/t.

US prices also dropped this week, but looked to be moving back up.

Oilseed rape prices are down slightly. The soybean harvest has finished in Argentina, and the AHDB reported it reached 50.5m tonnes, up 100,000t on last year.

Dry weather was also reported in Western Canada, which could help oilseed prices.

US crops

The United States Department of Agriculture (USDA) is busy releasing a number of reports at present. It released its latest crop progress report on 6 July. Maize is doing well, with 74% reported to be in good or excellent condition.

Just over half of the winter wheat was harvested, at 53%. In the soybean fields, 66% of crops are in good or excellent condition.

Its quarterly acreage and grain stocks report showed that the US wheat acreage is down. However, the production forecast is higher based on higher yields. The area of maize planted this year is estimated to have increased by 5.1%.

The AHDB reported that the current estimates for maize area are the third highest planted since 1944. Soybean area is down and wheat area is relatively stable.

The USDA is due to release its latest World Agricultural Supply and Demand Estimates (WASDE) report on Friday, 11 July.

Malting barley

We have not received any price averaging from Boortmalt in recent week. To give an idea of where things are at the FOB Creil Planet price for malting barley hit a recent peak at €235.25/t on 29 May.

It was at €228/t on 23 June, €226/t on 1 July and €223.50/t on 8 July. This is the October/March price. US tariffs are now delayed to 1 August which will continue to impact on malting barley markets.

Native prices

At home prices for native grain are at about €205/t for spot barley and €215/t for spot wheat. Looking ahead to November prices and barley is reported to be at up to €210/t and wheat at around €220/t.

November maize into the country is at €210/t and barley will find it hard to compete above this price. Large amounts of grain are also reported to be bought ahead into the spring time.

The new AgNav tool can value low-carbon grain so should be filled out.