27 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


20 March 2015
Tractor Driver / GFW
COMPETENT TRACTOR DRIVER/GFW Required for busy arable/potato farm. Permanent position. High earning potential. Madley area. J...

26 March 2015
Customer Service Team Supervisor - Maternity Cover
NSF International's Agriculture Division provides certification, auditing, consulting, training, farm services and laboratory...

26 March 2015
Assistant Headteacher - Hill Farm Primary School - SL/255/15
Hill Farm Primary School. HILL FARM PRIMARY…EXCELLENCE FOR ALL, EXCELLENCE FROM ALL. At Hill Farm, we are very proud of the w...

19 March 2015
Seasonal Sales Assistant
Sales people wanted to join the Event Team for award-winning ethical brand Had it with the 9-5? Office life getting you down?...

13 March 2015
Lettings Administrator
Countrywide, UK's Largest Lettings, Estate Agency and Financial Services Group, with over 1300 branches across England, Scotl...




Top stories you may have missed
23 March 2015 | Cattle

UK butchers face difficulties to recruit...

Butchers in the UK are losing a generation through lack of training opportu...


20 March 2015 | Arable

Dust - the secret fertiliser?

NASA research has revealed how dust blown from the Sahara desert helps supp...


19 March 2015 | Arable

The Budget 2015: A Farmer's Budget?

“In the run up to the Budget 2015 most commentators were predicting that th...


17 March 2015 | News

UK's first floating solar power system l...

The UK’s first fully operational floating solar panel system has been unvei...


13 March 2015 | Animal Health

Labour and Conservatives clash over badg...

Axing the badger cull in England and Wales will save more than £120 million...


12 March 2015 | News

Solar could be cheapest energy source by...

By 2025, solar power could become one of the cheapest forms of energy in ma...


11 March 2015 | Finance

English buyers turn their attention to S...

Demand for Scottish farm land remains strong and continues to be better val...


9 March 2015 | Cattle

2020 vision for the Welsh red meat indus...

The Welsh red meat industry should aim to increase sales by at least 34 per...


6 March 2015 | News

MP raises egg industry concerns on trans...

Fears about the impact that a proposed transatlantic trade agreement could ...


Stay safe and legal when flying drones

The use of Unmanned Aerial Vehicles and Unmanned Aircraft Systems - or dron...