TMMF Ltd
Farminguk
29 July 2016 | Online since 2003
Less co2 Limited


15 July 2014 12:03:05|

EU grains markets finish mostly lower again


EU grains markets finished mostly lower again, extending the recent theme. Nov 14 London wheat set a fresh contract lifetime low, and also finished at a fresh lowest close for a front month in almost 4 years.
The day finished with Nov 14 London wheat down GBP0.85/tonne at GBP129.70/tonne, Nov 14 Paris wheat ended EUR1.75/tonne lower at EUR178.75/tonne, Aug 14 Paris corn was down EUR1.50/tonne at EUR167.50/tonne, whilst Aug 14 Paris rapeseed managed a EUR0.25/tonne rise to EUR331.50/tonne although all other months were lower.
As well as London wheat setting various significant lows, this was also the lowest front month close on Paris wheat since November 2011 as the future ended the day below critical long-term support at EUR180/tonne. A sustained period below this level would be seen as very bearish. In addition this was the lowest front month close on Paris corn since November 2013.
Harvest pressure, and the outlook for bumper EU and global grain and oilseed production in 2014/15, together with a delayed reaction to Friday night's sharply lower close in Chicago, all conspired to drive European markets to fresh lows.
The Russian grain harvest now stands at 17.9 MMT, with average yields up 14% on this time a year ago at 3.53 MT/ha. Wheat accounts for 13.3 MMT of that total off 14.8% of the intended area, with yields of 3.6 MT/ha representing a 12% increase on 2013. Barley accounts for a further 2.4 MMT off 7.4% of the planned area. Russian growers have also harvested 246 TMT of rapeseed off 12.4% of the planned area.
Belarus forecast that they would harvest a record 10 MMT grain harvest this year.
Oil World estimated the 2014 EU-28 rapeseed crop at 22.7 MMT versus a previous estimate of 22.4 MMT and up 7% compared to the 2013 crop of 21.2 MMT.
They see production in Germany at 5.9 MMT versus 5.8 MMT in 2013, with France contributing a further 5.2 MMT, up 18% versus 4.4 MMT a year ago.
The 2014 Polish rapeseed crop this year will amount to 2.8 MMT, the same as last year. The UK will be Europe's fourth largest producing nation with a crop of 2.5 MMT, a 19% rise on 2.1 MMT a year ago, they added.
Grain exports out of the Black Sea are starting to pick up. The Ukraine Ag Ministry said that the country had exported 586,000 MT of grain between Jul 1st – Jul 11th. Russian grain exports for the period Jul 1st - Jul 9th were 466,000 MT.
Ukraine corn was said to be offered at EUR164/tonne CIF Northern Spain for November shipment, that's the equivalent of around GBP131/tonne including shipping costs. Ukraine new crop corn offers FOB the Black Sea are now said to be down to $195/tonne, which is less than GBP115/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


New Zealand | 29 July 2016
Robbery at the Kensington Avenue dairy - Waihi

At 12.50pm today, Thursday 28 July, a man entered the Kensington Avenue dairy in Waihi armed with what appeared to be a pistol. He is described as Maori or Polynesian of solid build who was wearing a ...


France | 29 July 2016
French plans for origin labelling slammed by dairy and meat processors

France is to trial mandatory country of origin labelling for two years. Dairy and meat processors have heavily criticised plans to introduce origin labelling in France. EU Health Commissioner Vy...


Canada | 29 July 2016
Canadians given go-ahead to buy another dairy farm

Canadians are continuing to buy into New Zealand dairy farming with the purchase of a property in the Maniototo, Otago. Last year a report by KPMG showed Canadian investors were the biggest foreign...


Uganda | 29 July 2016
Will tax cuts on agriculture machinery spur sector?

To encourage more people to get into agribusiness, government in the financial year that started on July 1st decided to strike down 18% Value Added Tax (VAT) on the supply of machinery used for the pr...


USA | 29 July 2016
Scientists call for increased federal investment in sustainable agriculture

Based on a new analysis of federal funding from the US Department of Agriculture, researchers say there is an urgent need for increased investment in research and development aimed at making sustainab...



Trending Now

Viewed
Discussed


Top stories you may have missed
closeicon
Username
Password