Irish grain prices for both old and new crop have eased off recent highs. Dried old Irish crop wheat is trading at €210/t down €2/t since Tuesday. New crop wheat is currently trading at €188/t gaining €3/t on yesterday’s close. Old crop barley has remained more resilient at €208/t with new crop back €3/t since Tuesday. Oats remains unchanged at €210/t with new crop down €2/t at €188/t.
Progress on the Greek crisis has seen the euro strengthen leaving European grain less competitive. In addition talks of a sizable increase in US maize sowings to an area not seen since 1944 is impacting on new crop feed grain prices. However strengthening soybean prices coupled with more expensive nitrogen may dampen farmer enthusiasm for a large swing to maize.
The deep freeze of many Russian ports over the last month has been supportive of old crop prices as it delayed the shipment of an estimated 1 million tonnes of grains, mostly wheat. Since July Russian grain exports were estimated at just under 20mt averaging 2.5mt per month. Market analysts predict that a further 5mt will be exported between now and the end of the current marketing year on the 30th of June.
Fuel price update
Crude oil prices continue to rise with Brent crude hitting a high of $124.01 last night before easing to $122.49 earlier today. The ongoing geo-political tensions between Iran and the West have created a significant price risk premium and this is putting upward pressure on petrol, diesel and marked gas oil (tractor diesel) prices. A strengthening euro should mitigate some of the increase.
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23-Feb-12
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| Soya 49% |
Spot |
€329.00
|
| |
Feb-Mar |
€329.00
|
| |
Apr |
€327.00
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| |
May-Oct |
€319.00
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| |
|
|
| Corn Gluten |
Spot |
€206.00
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| |
Feb-May |
€206.00
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| |
May-Oct |
NA
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| |
|
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| US Dist. |
Feb-Apr |
€240.00
|
| |
May-Oct |
€237.00
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| |
|
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| Citrus |
Spot |
€172.00
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| |
Feb-Apr |
€172.00
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| |
May-Jul |
€172.00
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| |
|
|
| Un-molassed Beet Pulp |
Spot |
€202.00
|
| Feb-May |
€202.00
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| |
|
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| Cane molasses |
Spot |
€164.00
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| |
|
|
| |
|
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| US Soyahulls |
Spot |
€169.00
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| |
Feb-Apr |
€167.00
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| |
May-Dec |
€163.00
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| |
Jan ’13 |
NA
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| |
|
|
| “00″Rape Meal |
Feb |
€227.00
|
| Mar-Apr |
€227.00
|
| |
May-Jul |
€214.00
|
| |
August |
€195.00
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|
|
|
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| Maize |
Spot |
€231.00
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| |
Mar-Apr Fr |
€231.00
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| |
May-Sep |
€232.00
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| |
Oct NC |
€209.00
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| |
Nov-Dec |
€210.00
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| |
|
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| Wheat |
Spot |
€210.00
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| Max 15% moist |
Feb |
€210.00
|
| Min 72kph |
Feb Imp |
€222.00
|
| |
Mar-Apr |
€210-212
|
| |
Mar-Apr Imp |
€222.00
|
| |
May-Jul Imp |
€223.00
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| |
Sep-Dec NC Imp |
€200.00
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| |
Sep-Oct NC Irish |
€188.00
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| |
|
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| Barley |
Spot |
€208-210
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| Max 15% moist |
Feb-Mar |
€208-210
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| Min 62kph |
Feb-Mar Imp |
€220.00
|
| |
Sep NC Imp |
NA
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| |
Sep NC Irish |
€180.00
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| |
|
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| Oats |
Spot |
€210
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| Max 15% moist |
Feb-Apr |
€210
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| Min 54kph |
Sep NC Irish |
€188
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|
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| Exchange rates |
€/st£
|
0.8461
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| |
€/us$
|
1.3300
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| Brent crude oil |
$122.49
|
| Tractor Diesel (Incl vat) ULSG |
€0.9480
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| Marked gas oil (Incl vat) |
€0.9350
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53.117205
-7.047034
