02 March 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


27 February 2015
Farm Trader
About the company: Our client is a leading player in the crop inputs and grain marketing business, with a presence across the...

9 February 2015
Plant Health Inspector (Perth & Angus)
The work will involve visiting farms and assisting in the inspection of these crops. We are currently seeking applications to...

24 February 2015
Agricultural Sales Manager
Create relationships with key influencers in the region including machinery dealers, land agents, farm business consultants, ...

12 February 2015
Specimen Processor Coordinator
IDEXX Laboratories is the global leader in its field and is engaged in the development, manufacture, and distribution of prod...

27 February 2015
e-Commerce Administrator
e-Commerce Administrator Minety, Wiltshire £16,000 - £19,000 This busy office requires a quick learner with an eye for detail...




Top stories you may have missed
2 February 2015 | Arable
Is EU membership damaging UK farming?

Is EU membership damaging UK farming?

Membership of the EU is damaging the British farming industry, according to...


29 January 2015 | Machinery and Equipment
Drones 'rapidly changing' agriculture

Drones 'rapidly changing' agriculture

BASIS has launched an accreditation for pilots of Unmanned Aerial Systems (...


23 January 2015 | Arable
UK wheat yields have potential to double

UK wheat yields have potential to double

UK wheat yields have theoretical potential to more than double over the nex...


23 January 2015 | Machinery and Equipment
Crowds flock to LAMMA 2015

Crowds flock to LAMMA 2015

Britain’s farmers flocked to Peterborough for the first day of LAMMA’15 to ...


22 January 2015 | Cattle
Don't blame supermarkets for milk crisis...

Don't blame supermarkets for milk crisis...

The crisis in the dairy industry is not the fault of supermarkets, accordin...


16 January 2015 | CLA
Families affected by HS2 face 'major wor...

Families affected by HS2 face 'major wor...

Transport Minister Baroness Kramer visited three rural businesses in Cheshi...


16 January 2015 | Machinery and Equipment
John Deere unveil new 6R tractor range

John Deere unveil new 6R tractor range

Spearheading the John Deere range of mid-size tractors from Mannheim, the n...


14 January 2015 | Animal Health
Monthly TB checks more effective than ba...

Monthly TB checks more effective than ba...

Regular testing for bovine TB could significantly reduce the number of infe...


12 January 2015 | News
Government regulations hampering UK agri...

Government regulations hampering UK agri...

Single-issue policy-making threatens to hamper, not help, the progress of U...


8 January 2015 | Cattle
2015: The year ahead for the beef market

2015: The year ahead for the beef market

2014 has been a “rocky old year” for the beef industry but better prices ar...