Mole Valley Farmers
Farminguk
01 October 2016 | Online since 2003
Scrutton Bland


29 June 2012 07:29:06 |Market Reports,News

EU market report - 29th June 2012


EU grains closed generally flat with Jul 12 and Nov 12 London wheat both unchanged, along with Aug 12 and Nov 12 Paris wheat.

Prices still hover around 12-month highs on surging US markets concerned about yield losses in corn and soybeans due to heat and dryness. Traders are also a little nervous however ahead of tomorrow's important USDA planting and stocks data.

Latest weather forecasts for the Midwest this afternoon appear to be factoring in more rainfall in the coming 5-day period. However most recent forecasts have failed to deliver promised precipitation.

Today and tomorrow's EU leaders summit is also a cause for nervousness, with few expecting too much in the way of serious and tangible progress to be made.

It seems to be shaping up that the Black Sea countries won't have the same volume of wheat to export in 2012/13, which may stop prices falling out of bed once the harvest gets going in earnest.

Harvesting is already underway around 10 days earlier than normal in the south of Russia, where yields are so far disappointing. Local analysts IKAR today cut their grain harvest estimate from 88.4 MMT to 84.5 MMT, with the wheat harvest coming in at 48.5 MMT compared to 56.2 MMT last year. Grain exports will total 17.5 MMT, compared to an estimated 27 MMT in 2011/12, they added.

Brussels only issued 21,000 MT of soft wheat export licences this past week, a very poor total with just one week of the 2011/12 marketing year left to go.

On the rapeseed front the NFU said as far as the UK crop goes "Continuous rain since March, significantly above average. Crop looks good, although estimates are conservative until it is in the barn. Prospects are likely to improve on current estimates."

In France they say "the end of winter was harsh, with frost damage to eastern crops and particularly oilseed rape in the North East. Spring rain improved the dry conditions of winter crops. Areas are stable at 1.5m Ha, but production will fall to 5 MMT (400 TMT down), with yields at 3.15 MT/ha."

Download

0 Comment

loginuserlogo
Name

Please enter your name


Email

Please enter your email

Please enter valid email


Comment

Please enter your comment


Post Comment

Your comment has been submitted successfully. Please wait for admin approval.


Comments

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


USA | 30 September 2016
Toolbox unveiled to help preserve agriculture in Utah County

Rex Larsen, a fifth-generation Utah County farmer, is facing issues that the previous generations didn’t have to worry about, namely, rapid urban development encroaching on farmland. His farm, he s...


China | 30 September 2016
Will big agriculture mergers impact smallholder farmers?

A tsunami-sized wave of corporate megamergers sweeping the agrochemical industry has the potential to reshape the landscape of global farming and food production. If approved, the multibillion doll...


USA | 30 September 2016
Morris farm works to rebound after beef recall

A Connecticut farm in the middle of a beef recall is giving refunds, and fighting to guarantee its reputation. Truelove Farms had one steer sent off to Adams Farm in Massachusetts in late July for ...


USA | 30 September 2016
Small dairy farm wins with robotic milking

Old English cheese recipes and high-tech production put Kenton County farmer on the menu. On a rainy day, Eddie Gibson sits outside his dairy barn near Walton looking out at his 130-acre farm. Surr...


Canada | 30 September 2016
Schumer continues push against harmful Canadian dairy rules

A push against Canadian protectionism harming O-AT-KA Milk and dairy entities has reached federa Department of Agriculture Secretary Tom Vilsack. Democratic Sen. Charles Schumer said Wednesday that...



Trending Now

Viewed
Discussed


Top stories you may have missed
FarmingUK
FarmingUK Logo

FarmingUK

Farm subsidy payments funded by the UK taxpayer are being paid to millionai...


FarmingUK
FarmingUK Logo

FarmingUK

Labour will end the badger cull and prioritise ending bovine TB, Shadow Def...


FarmingUK
FarmingUK Logo

FarmingUK

A herd of rare White Park cattle could die out if its owners do not urgentl...


FarmingUK
FarmingUK Logo

FarmingUK

The UK government is "failing" to support farmers in the long-term accordin...


FarmingUK
FarmingUK Logo

FarmingUK

Retailer Co-op has announced that from May 2017 all of its bacon and lamb w...


FarmingUK
FarmingUK Logo

FarmingUK

Over 50 wildlife organisations have compiled a stock-take of all the UK's n...


FarmingUK
FarmingUK Logo

FarmingUK

In the run up to the EU farm ministers meeting the agricultural sector have...


FarmingUK
FarmingUK Logo

FarmingUK

The RPA must iron out a number of problems that still exist with 2015 BPS p...


FarmingUK
FarmingUK Logo

FarmingUK

Tourism businesses in the countryside are being held back due to the uncert...


FarmingUK
FarmingUK Logo

FarmingUK

A 24 point action plan aimed at revitalising Scotland's sheep sector after ...


closeicon
Username
Password