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Co-op News<br />
Retail offers MARCH 2012<br />
Full range of offers only available from larger stores<br />
Limited range of these offers<br />
available from all stores
Grain Market Report<br />
(Information provided accurate at time of going to press)<br />
Wheat<br />
Wheat Markets have been trading at<br />
8 month highs recently, having been<br />
at 8 month lows in November,<br />
showing once again the volatility.<br />
Most of the price rise in the last<br />
couple of weeks can be attributed to<br />
concerns of sub-zero temperature in<br />
Europe/Former Soviet Union (FSU).<br />
This is causing logistical problems,<br />
as ships cannot load due to frozen<br />
rails/ports.<br />
The lack of snow cover is a major<br />
worry in the FSU as winter crops<br />
were stressed due to dryness in the<br />
autumn. Spot demand is also<br />
keeping prices firm.<br />
The huge closing stocks of wheat<br />
(213 million tons) from last season<br />
still weigh on the market.<br />
Therefore many customers are still<br />
buying hand to mouth in expectation<br />
that prices will fall at some stage as<br />
the new harvest approaches and<br />
logistics are sorted in exporting<br />
countries.<br />
Corn (maize) will remain a driving<br />
factor for all grain prices as closing<br />
stocks remain tight. The USA is<br />
expected to plant close to a record<br />
crop of corn this year (94 million<br />
acres), which will make stocks more<br />
comfortable, but once the crop is<br />
sown, yield potential will drive<br />
markets.<br />
Barley<br />
Barley prices remain firm as supply<br />
tightens international. It is thought<br />
that Saudi Arabia will increase<br />
imports this year to 7.5 million tons<br />
(versus 6.7 million tons last year) to<br />
increase stock up (they viewed the<br />
price too high last year).<br />
Argentina has been an aggressive<br />
seller as it produced a record crop<br />
this year. European prices remain<br />
firm as demand for malting barley<br />
remains strong as poor germination<br />
results from Scandinavia push<br />
malsters to other sources.<br />
It is forecast that EU stocks will have<br />
fallen 32% from 2009 to 5.3 million<br />
tons. It has become noticeable that<br />
barley is being used at minable<br />
inclusion rates as it trades at parity<br />
to wheat.<br />
Nevertheless stocks are likely to be<br />
tight by year end.<br />
Monthly<br />
€50 Voucher<br />
Winners<br />
Sean Kelly,<br />
Coolroe,<br />
Burncourt,<br />
Co. Tippeary<br />
Edmond O’Donnell,<br />
Boulinlisheen,<br />
Galbally,<br />
Tipperary,<br />
Co. Tipperary<br />
Timothy &<br />
P J Murphy,<br />
Kileen,<br />
Aghabullogue,<br />
Co. Cork<br />
Use the <strong>Dairygold</strong> Postal Payment Envelope or pay by milk or grain<br />
offset and you could be a lucky winner<br />
2
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