The market is looking to new crop markets as trading of old crop supplies in June is traditionally much lower, according to the Irish Farmers’ Association.
Grain price sentiment remains largely unchanged this week (16 June, 2022) and prices remain similar to last week. The last three weeks have seen a downward trend over news on potential grain corridors out of Ukraine.
Paris MATIF wheat for 22 September closed (15 June) at €392.75/t.
A day earlier, Glanbia offered €310/t for green barley and €325/t for green wheat.
FOB Creil malting barley closed at €455/t this week. The rolling average stands at €436.20/t for Boortmalt suppliers.
Meanwhile, USDA world agricultural supply and demand estimates for June have been published. New crop maize ending stocks for 2022/2023 were revised up by nearly 2% with record production still on track in Brazil and higher than expected maize planting in Ukraine.
Global wheat production was revised down by 1.4 million tonnes in the same report. US maize planting is now 97% planted and has caught up well after much slower than average planting progress in May. Attention now turns to crop emergence and ratings.
Russian wheat forecasts for 2022/23 are showing variability.
French wheat crop conditions were rated at 66% good to excellent last week. Harvest of winter barley has commenced in some areas so the effects of the drought on crop yields will become clearer shortly.