Wheat prices harden to €120/tonne

Ireland: Wheat prices are hardening to €120/tonne on the back of substantially increased shipping rates and increased British wheat futures, according to IFA Grain Committee chairman Paddy Harrington.

He said shipping rates have risen by €4-€6/t in the last few weeks. This, coupled with a lack of availability of imported grain, has seen wheat prices move from a low of €114-€115/t to €120/t now on offer for collection ex-store from November.

Irish grain is trading at €15-€18/t below what it was this time last year. This is having a major negative impact on growers’ confidence.