AgriFacts December 2024
Market Report Grain market report Could a new U.S. president impact agricultural markets? With a stronger dollar, a robust U.S. economy and increased exports, there might be a shortterm positive impact. However, expect some uncertainty and turbulence .
Wheat prices have hit an 18-24 month low, due to a number of factors, including large exports from Russia and Ukraine. Despite Black Ssea exports returning to pre-war levels, Ukraine and Russia have produced nearly 14 million tonnes less than the previous year, suggesting that stocks may soon deplete. EU exports have been slow, with 4 million tonnes less exported compared to last year. The market needs to become more competitive to price increases. Hopefully, recovery is on the horizon. Demand for Barley is low, leading to slow market activity and low trading prices. The price gap between wheat and barley remains significant. In contrast, the rapeseed market has shown encouraging prices. However, recent support from palm oil production risks raises the question of whether we have seen the market peak.There was a dip when Trump threatened to impose import taxes on China, Canada and Mexico.
Fertiliser
December 2024 (Midlands) ex farm
Feed Wheat
£176/t
Red Diesel
Feed Barley
OSR
£151.10/t
£420.20/t
Straw
69.6ppl
£60/t – big bale wheat
AN
Gran Urea
£342/t
£369/t
TSP
£452/t
Milk
43ppl
Hay
Finished Steers
549.7 p/kg
Finished Lambs
£65/t big bale
688.2 p/kg
MOP
Finished pigs
£327/t
206.4 p/kg
Prices taken from Farmers Weekly & AHDB
Grain market prices