Low crop estimates spur grain price hikes

GRAIN prices have jumped on the island of Ireland as traders respond to low crop estimates coming on top of a picture of reduced world supplies.

Delivered prices into Belfast are reported higher for both feed barley and feed wheat, respectively by €9.75 per tonne, to €160, and by €4.87, to €168.75, compared to last week.

Prices rose as the British government estimated its 2006 cereal crop area was 2% down on 2005 for wheat, and yields were slightly up.