Grain prices harden as drought fears increase
GRAIN prices have hardened in the wake of lower reported winter wheat plantings in the US and fears drought conditions will hit spring wheat yields.
Dairygold offered forward prices for this year's harvest of €144/t for green wheat off the combine and €133/t for barley in recent days.
Glanbia was also active in the grain price stakes, quoting a November price for dried wheat of €180/t and €166/t for barley. This was €5/t up on the previous Glanbia offer.
The outlook for Irish grain crops is extremely positive, as Carlow-based farm advisor Pat Minnock reported crops were "looking super".
He said the recent warm spell had "turned crops inside out". He said the warm and wet conditions were ideal for this time of the year, and crops were filling well as a result.
East Cork grower Dick Fitzgerald said the winter barley crops in the area looked to have "good potential". However, he said spring barley crops were "variable", with some showing signs of having been caught with drought.
Noel Delany said the winter barley crop in south Tipperary was looking good but could do with "a bit of rain".