Upward price trend for EU grains
Quotations for Black Sea milling and feed wheat also climbed, despite recently increased crop estimates.
Reduced milling quality, export demand (India and Egypt are key buyers), and interest from the feed industry have boosted grain prices. The trend may hit bread prices, with bakers warning shoppers may have to pay 6 to 14 cent more for a loaf.
Export prospects for malting barley seem to improving, due to broken weather for finishing the harvest in Britain and Europe.
Meanwhile, farm-to-farm feed grain trading in Ireland has been boosted by the IFARM.ie website, designed for direct trading of grain, straw and fodder. A facility for securing payment to sellers is due in October.
Across Europe, sustained retention of grain by farmers is a feature of current markets, which could be in major upheaval this week as the European Commission returns from the summer break to find grain values 35% above intervention.
