01 July 2015 | Online since 2003

EU grains market report 25th July 2012



25 July 2012 10:16:25|Arable,Cereal,Crops,Market Reports,News

EU grains market report - 25th July 2012


EU grains closed sharply lower as European debt woes raged with Nov 12 London wheat crashing GBP10.20/tonne to GBP180.30/tonne and Nov 12 Paris wheat slumping EUR14.25/tonne to EUR251.00/tonne.

The bad news for Europe is now coming thick and fast from all angles, with Spain looking like the recently agreed banking sector bailout was just the tip of a very large iceberg.

A full blown Spanish bailout would be the largest drain yet on what is starting to look like a woefully inadequate stability fund. And then there's Italy...

Meanwhile it's looking like Greece hasn't been able to comply with all the criteria to qualify for it's next trance of bailout funding so some further debt restructuring there is going to be necessary to avoid a default.

Yields on Spanish 10-year bonds rose to 7.6% and the Italian stock market crashed to a euro era low yesterday.

The grain market crashed as spec money scrambled for the exits as things went into a full on risk-off mode.

The US weather outlook is a little brighter. "A strong storm tracking through southern Canada will challenge a dome of high pressure currently causing heat-wave conditions in the US heartland. Rainfall is expected to be heavy in the Northern Midwest, but the jury is still out on how much rain would develop in the “heart” of the corn belt. Nebraska, Iowa , Missouri and Illinois may miss out on heavy, soaking rains, though scattered showers are still indicated with variable amounts from .25 to 1.25 inch," say Martell Crop Projections.

With the US winter wheat harvest winding down, attention is now starting to switch to spring wheat. Although crop conditions for that have also been declining lately prospects still look pretty favourable, and far better than for corn.

"North Dakota saw wheat conditions decline for the 4th straight week on Monday to a season low 68% good-excellent. Poor rated wheat remained steady near 5%. Nine percent of the harvest was already complete, the second earliest on record.

"Hot temperatures have taken a toll on wheat conditions, no doubt, shrinking the yield causing premature ripening. Light-weight kernels may be revealed at the grain elevator since extreme heat coincided with the grain filling stage. This may still be a good harvest from favourable spring growing conditions. The USDA pegged the hard red spring wheat harvest at 435 million bushels in the July report and nearly 10% higher than last year’s 398 million bushel crop," Martell Crop Projections add.

Download




Comments


No comments posted yet. Be the first to post a comment

To post comment without approval login or register

Display name

Please enter your name

Email (optional)
Comment

Please enter your comment

Post Comment

Your comment submitted successfully.Please wait for admin approval.

Some error on your process.Please try one more time.



Jobs


Start Date: 1 July 2015
C171: Ruminant Support Specialist

De Lacy Executive is currently searching for a Ruminant Support Specialist to promote our international client within the Sou...


Start Date: 16 June 2015
Mixed Farm has a job for a Stock Manager >>> Daventry /Banbury <<<

The most important part of this job is looking after and managing the stock. You must enjoy working with animals but also be ...


Start Date: 18 June 2015
Stockman with land management skills: Interesting livestock job on farm in East Suffolk

We are looking for a self motivated, experienced person to take over the running of our Suffolk Red Poll herd and continue th...


Start Date: 1 July 2015
A424: Technical Manager - Agri Food Sector - South West/West Midlands

De Lacy Executive seek an experienced Manager to join a leading food and drink research organisation. Strong leadership skil...


Start Date: 28 June 2015
Job Quadtrac Driver required for Primary and Secondary cultivations in Northumberland.

1 x Quadtrac Driver required for a 1100ha arable farm near Morpeth,  Northumberland.

To operate a&nbs...





Top stories you may have missed
5 June 2015 | Cattle

A strong pound and increased red meat imports coupled with a plentiful dome...


5 June 2015 | Arable

Depression is affecting Wales' farming industry and there is a need to use ...


5 June 2015 | Arable

With just one week to go before the final judging and announcement of the w...


5 June 2015 | Finance

A rural law expert has highlighted the importance of good succession planni...


5 June 2015 | Farmshops

A south Yorkshire dairy farming family is pulling out all the stops to prom...


4 June 2015 | Finance

Predicting what is going to happen to wheat prices is a challenge, but in s...


4 June 2015 | Agri Safety

A Lancashire based livestock theft prevention scheme is aiming to go nation...


4 June 2015 | News

A female farmer has been recognised by the farming and conservation industr...


4 June 2015 | Finance

The new Conservative government appears to be preparing to implement cuts f...


4 June 2015 | Arable

The Rural Payments Agency (RPA) will have mobile support units at the follo...