CropTec Show
Farminguk
24 August 2016 | Online since 2003
Briefing Media - FG Classified


29 July 2014 09:30:00 |

EU grains closed mixed with trade 'subdued'


EU grains closed mixed with Nov 14 London GBP0.80/tonne lower at GBP125.50/tonne, Nov 14 Paris wheat was down EUR1.50/tonne to EUR178.25/tonn, Aug 14 Paris corn was up EUR3.50/tonne at EUR159.75/tonne and Aug 14 Paris rapeseed rose EUR2.25/tonne to EUR320.00/tonne.
Trading was subdued, with many buyers absent for the Eid al-Fitr holiday, an Islamic celebration that marks the end of the month-long Ramadan
There's still widespread trade talk of hagberg problems with the French crop.
Traditional export homes for French wheat like Algeria, Morocco and Egypt all carry minimum requirements for hagbergs of at least 200 if not higher, which potentially gives French traders a large headache this year. It could also provides UK milling wheat with a nice little window of opportunity.
For UK feed wheat it's a different story, with French origin grain seen undercutting the market in anticipation of a glut coming onto the market. French feed wheat apparently traded into Ireland last week at EUR10/tonne under offers from the UK, according to Agrimoney.
UK milling wheat will have still have to compete with the Black Sea for export business too, and Russia's crop at least seems to be getting larger. IKAR today raised their estimate for the wheat crop there to 57.5 MMT versus a previous forecast of 56.3 MMT. That's considerably higher than the USDA's current 53 MMT forecast and 5.5 MMT more than last year's production.
Russia's Ag Ministry said that as of July 25th Russia had harvested 33.2 MMT of wheat (of 36% of the total planned area) with an average yield of 3.66 MT/ha, up more than 20% on a year ago. They are also said to have exported 1.6 MMT of wheat already this month.
In excess of 80% of the Russian wheat harvest is currently said to be of milling standard.
Russian 12.5% milling wheat FOB the Black Sea is currently offered in the market around $240-242/tonne FOB, which is the equivalent of around GBP142/tonne.

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


Canada | 24 August 2016
Canadian farmers see bumper wheat crop as rain curbs quality

Canada’s wheat production will rise more than expected this year, adding to a global glut of the grain, while canola output will probably decrease, according to a government report. Wheat output wi...


France | 24 August 2016
Lactalis ready to discuss milk prices with angry French farmers

Europe's largest dairy producer, Lactalis, said on Tuesday it was ready to renegotiate milk prices paid to producers after hundreds of farmers protested outside its headquarters in northwestern France...


Japan | 24 August 2016
Is Japan's wagyu beef bubble bound to burst?

Bad news for high-end beef lovers: Japan’s Wagyu bubble could be on the verge of bursting. Prized Wagyu calves are currently fetching wildly inflated prices, says Nikkei Asian Review, and "If sky-high...


USA | 24 August 2016
Grassley to hold hearing on agriculture mergers next month

Iowa Sen. Chuck Grassley said Tuesday he will hold a hearing next month to discuss a wave of consolidation among seed and chemical producers, including the merger of Dow and DuPont. The chairman of...


Kenya | 24 August 2016
Should agriculture be a required school subject?

Despite the grumbling of many frustrated American school kids taking math tests, the broad subjects required in public schools each have firm arguments for their respective inclusion. But that does...



Trending Now

Viewed
Discussed


Top stories you may have missed
FarmingUK
FarmingUK Logo

FarmingUK

The sustained recovery of pig prices since the spring has come at a time wh...


FarmingUK
FarmingUK Logo

FarmingUK

A World Trade Organisation (WTO) panel has declared the Russian import ban ...


FarmingUK
FarmingUK Logo

FarmingUK

A new study has linked oilseed rape crops grown from neonicotinoid-treated ...


FarmingUK
FarmingUK Logo

FarmingUK

Philip Hammond is to guarantee billions of pounds of UK government investme...


FarmingUK
FarmingUK Logo

FarmingUK

Access to the foreign labour market is 'critical', according the chief exec...


FarmingUK
FarmingUK Logo

FarmingUK

The Tenant Farmers Association has said the National Trust's vision for a p...


FarmingUK
FarmingUK Logo

FarmingUK

Ulster farmers will 'not lie down and wave the white flag' when Brexit nego...


FarmingUK
FarmingUK Logo

FarmingUK

The cost of rural crime to the UK economy costs £42.5 million a year, accor...


FarmingUK
FarmingUK Logo

FarmingUK

A young farmers club member from Oxfordshire has created a petition on the ...


FarmingUK
FarmingUK Logo

FarmingUK

The farming sector has reacted negatively to a proposal to reintroduce the ...


closeicon
Username
Password