Bumper US crop sees Irish grain prices slide
With harvesting of the first crops of winter barley less than three weeks away, grain prices remain on a downward spiral.
The latest report from the United States, issued on Friday evening, confirmed that its maize crop is to be the largest in almost 80 years.
USDA officials said growers had planted 39.4million hectares of maize, which is higher than growers intended to plant in March and is, in fact, the biggest crop since 1936.
The soya bean and wheat crops in the United States are also higher than 2012.
The US report has put a major dampener on grain prices internationally and this is expected to trickle down to Irish prices in the coming days.
Prior to the USDA report, Glanbia had been offering growers a harvest price of €196/t for dried wheat, equivalent to a €156/t green price. It offered €10/t less for barley.
Dairygold had been offering €157/t for green wheat and €141/t for green barley since June 19.
Liffey Mills/Drummonds had offered €165/t for green wheat and €150/t for green barley.