04/09/2024 | Press release | Distributed by Public on 04/09/2024 19:44
Harvest Update
Harvest 2024 is progressing across the country. Earlier harvested winter cereals such as barley and oats have now been wrapped up. Winter barley yields are described as only average with many crops producing disappointing yields of 2.4-3.0t/ac in the south and east midlands. Better yields of 3.5-4.2t/ac have also been reported in parts of south Leinster and east Munster. Grain quality is reported as good. Winter oat yields appear to be more consistent and in line with expectations, with many crops yielding between 3.3-3.9t/ac, however, the area planted to winter oats is over 25% lower than last year to the due wet autumn in 2023. Straw yields are described as good and conditions have been favourable for baling and collection from fields. Straw prices for 4×4 barley round bales ex. field are generally making €25-30/bale with €35 charged in some areas.
Winter wheat harvest is ongoing at the time of writing. In a similar trend to winter barley, yields are reported as moderate to good, depending on how fields were affected by the wet winter and spring conditions. Figures in a range of 3.4-4.2t/ac have been quoted.
Spring barley harvest has not commenced nationally by the 3rd week of August due to delayed planting in April. A very small area of spring malting barley was sown earlier in east Cork and south Kildare. Early indications on the malting quality of these crops are good with low grain protein contents and acceptable kph values, moisture contents are said to be higher than usual due to showery weather. The vast majority of spring feed and malting barley is expected to be ready in the last days of August and into early September.
Grain Prices
International grain prices remain under strong downward price pressure in recent weeks. Competitive Black Sea wheat supplies have exerted a bearish sentiment on the market right through the growing season. A poor European wheat crop has offered a level of support to French MATIF prices. France has reported a particularly poor wheat crop this season, with official ministry figures reporting a 25% drop in production compared with 2023. Quality is also below average with Arvalis reporting that just 30% of wheat samples tested exceed 76kg/hl.
However, prospects of a record-breaking maize crop in the US this autumn have pressurised all global grain markets. USDA has forecast that maize yields will average 183 bushels/ac in 2024 which is the largest average corn yield ever printed. Chicago CBOT futures have plummeted in recent months down to $3.80 per bushel which equates to €135-140/ tonne when converted.
Native price offers for green grain have dried up in recent weeks with the last offers circulated by Tirlán on July 11th. These offered €182/t for green barley and €202/t for green wheat respectively. Dried grain prices reported to IFA in the 3rd week of August put wheat at €230/t and barley at €215/t. Imported maize ex. port for November is €215/t.
The FOB Creil market for Boortmalt malting barley suppliers has remained more resilient and looks set to deliver to another strong premium of €60-70/t over feed barley for growers, with the average price as of August 23rd at €260.17/t.
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