2012 grain losses likely to lead to drop in forward-selling next year
A dramatic fall in the number of tillage growers who will forward sell grain next year looks likely if the results of a Farming Independent survey hold true.
Forty percent of the 105 tillage growers surveyed at the Ploughing Championships in New Ross last week said they had forward sold grain this year.
However, just 26pc said they would forward sell grain for next year's harvest.
Fifty-two percent said they would not, while 22pc were unsure.
Some tillage farmers have been left nursing serious losses as a result of forward selling grain this year.
The unexpected price gains due to the US drought resulted in growers who had forward sold at €150-155/t earlier in the year losing out to the tune of around €60/t when prices at harvest came in at €205-215/t.
Indeed, with grain supplies down and demand up due to the weather, some growers who sold at harvest have secured bonuses of €10-15/t for supplies.