GRAIN MARKET UPDATE 30th MAY

GRAIN MARKET UPDATE 30th MAY

 

The first provisional DAFM BPS figures on the main cereal crop plantings indicate that they are similar to last year with only a 1% increase. As predicted the only real difference is a switch back to more Winter crops and an increase in the planting of oats which brings them back to the area of previous years.

The recent surge in the price of corn(maize) has lifted all boats with the forward harvest prices for green barley now just over €150/t while wheat is over €160/t. The FOB Creil malting barley (July 2019) price has improved from €185/t to €188/t over recent days. Some farmers report that there has been an increase in the interest for barley in store, as the spot price of maize is now significantly above barley for the first time in almost a year. If this price differential (which is the historic norm) remains or increases we will see barley buy its way back into feed rations by displacing the now more expensive maize.

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