Glanbia Upsets The Locals

Irish feed giant Glanbia have upset the locals with their on-account purchase prices for this season's grain harvest.

The company said it would pay EUR85/tonne (around £75) for spring barley and EUR91 (around £80.50) for winter barley and wheat based on 20% moisture content, according to the Irish Independent.

Any wheat or barley that could be found at only 15% moisture would qualify for a EUR10/tonne bonus, bringing spring barley up to EUR95/tonne (£84) and winter barley/wheat up to EUR101/tonne (£89.40). Not that there's likely to be too much of that around after another disastrously wet summer, but then again that's hardly Glanbia's fault and neither is the cost of drying or the weight loss involved.

Based on current UK prices, like it or not, those levels look about right.