Scottish Harvest Yields Good Results Amid Global Grain Price Hikes

Scottish farmers are breathing a sigh of relief as the early harvest season has brought good yields and lower drying costs.

The prolonged dry spell in Scotland has been a blessing in disguise for farmers, allowing them to complete their harvests ahead of schedule. With temperatures ranging from 18°C to 22°C throughout August, the ideal conditions have resulted in higher quality crops and reduced drying expenses.

According to recent data, global grain prices have increased by 5.2% last week due to forecasts that the US maize crop will be down 10% on record levels. Chicago Board of Trade futures rose to $5.36 a bushel, reaching their highest level since July 2023.

The International Grains Council has cut its forecast for world wheat production in 2026-27 by 4.3Mt to 816.7Mt, partly due to lower yields in Europe and the UK following the long, hot summer. This decrease is expected to result in a global wheat crop 27.5Mt below last season, leading to higher wheat prices.

Prices are also rising due to the ongoing conflict in the Black Sea region, with exports from key Russian and Ukrainian ports virtually halted. The UK nitrogen market has been driven this summer more by weak demand than by any shortage of product, with only around 50% of the tonnage normally ordered by the end of August having been purchased.