25 April 2015 | Online since 2003



16 August 2012|Arable,Cereal,Crops,News

European wheat remains 'steady'


EU grains closed with Nov 12 London wheat up GBP0.25/tonne to GBP195.25/tonne and Nov 12 Paris wheat up EUR1.25/tonne to EUR256.25/tonne.

Considering that the harvest is underway, European wheat remains fully steady. Especially if you consider that Chicago wheat has just posted its worst three day loss in more than a year between Friday and Tuesday.

CBOT wheat fell 8% during those three sessions, whereas Paris wheat was less than 3% lower and London wheat less than 1% easier during this time.

The UK supply and demand equation has been altered by the surprise announcement of the imminent re-opening of the Ensus bioethanol refinery on Wilton, with it's annual requirement for more than 1 MMT of wheat.

Meanwhile heavy rain across most of the country yesterday will have stalled the early wheat harvest, although things should soon dry out if the forecast 90F weekend temperatures arrive (at least for the south and south east).

Many pundits are now forecasting a UK wheat crop around 1 MMT below last year's 15.3 MMT total, further tightening the UK balance sheet.

Elsewhere, Russia remain aggressive marketeers, winning 75% of this week's Egyptian business despite widespread reports that this season's crop has been more adversely affected by drought than was realised just a month or two ago.

SovEcon say that Russia’s exportable surplus of 10-11 MMT may run out by November if Russia’s grain exports remain strong. They estimate August grain exports at 2.5-3.0 MMT versus 2.13 MMT in July, and forecast September grain exports also around the 2.5–3.0 MMT mark.

They now see Russia's 2012/13 grain crop at 70-74 MMT compared to their previous estimate of 72-75 MMT and 94 MMT in 2011/12.

Russia’s Ag Ministry say that as of 14th Aug 27 MMT of Russia’s wheat crop has been harvested. Average wheat yields are said to be 2.21 MT/ha versus 3.18 MT/ha at this time a year ago, a reduction of more than 30 percent.

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


16 April 2015
Senior Digital Advertising Sales Executive- FTSE 250 Company
An exciting opportunity has arisen in our Central London office for an ambitious Senior Digital Advertising Sales Executive l...

23 April 2015
General Farm Worker
General Farm Worker. Required for Sheep / Arable farm in Wendover. Must be keen on sheep, arable experience helpful....

24 April 2015
Assistant to the Secretariat
Agriculture, malting, brewing, distilling :. Assistant to the Secretariat (Office Manager)....

24 April 2015
Nursery Cleaner (Ref 4674)
Anything recyclable is recycled, including milk bottles to the dairy. Our Client is currently recruiting for a Nursery Cleane...

24 April 2015
Handyperson
You must have good property renovation experience as well as agriculture working experience. JOB TITLE – Handyperson....



Top stories you may have missed
10 April 2015 | Agri Safety

The permanent eradication of Bovine Viral Diarrhoea [BVD] in Scottish cattl...


10 April 2015 | Dairy

The abolition of milk quotas in Europe on 1st April has resulted in a numbe...


10 April 2015 | Cattle

The top 14 milk producing countries in Europe will increase their productio...


10 April 2015 | News

Matt Ware is the NFU's head of government and parliamentary affairs, based ...


10 April 2015 | Arable

There is a 'desperate need' to improve farmgate returns given low incomes a...


9 April 2015 | Arable

Rapid stem extension, after a slow start to spring, is likely to create spl...


9 April 2015 | Finance

The time has come for landlords to expect to see reductions in farm rents, ...


8 April 2015 | Cattle

Cogent’s reputation as a source of the highest calibre sires has been enhan...


8 April 2015 | Arable

The spread of exotic and aggressive strains of a plant fungus is presenting...


7 April 2015 | Animal Health

The FSA’s new Food Crime Unit wants the industry to share information, some...