EU Grains Mixed In Dull Trade

Posted by Nogger - a legend in his own mind at 20:32 | Categorized as

04/07/16 -- With US grain closed for Independence Day it was always likely that this would be a dull and low volume affair, and so it proved.

At the close Jul 16 London wheat was GBP1.250/tonne higher at GBP111.25/tonne. Sep 16 Paris wheat closed EUR1.75/tonne firmer at EUR154.00/tonne, both Aug 16 corn and Aug 16 rapeseed were unchanged at EUR169.75/tonne and EUR357.75/tonne respectively.

Strategie Grains released their latest forecasts on EU oilseed production, estimating the EU-28 rapeseed crop at 21.24 MMT, some 3.1% down on last year. They see average yields at 3.37 MT/ha.

Ukraine said that they'd exported 39.4 MMT of grains in 2015/16, a record volume and one that is up 13% on last year. The total included 17.35 MMT of wheat, 17.40 MMT of corn and 4.41 MMT of barley and beat's last season's total by 4.61 MMT.

Russia also shipped out a record volume of grain in 2015/16, although various official estimates vary slightly. The Ag Ministry total placed the figure at 33.8 MMT, slightly lower than Rusagrotrans' 34.5 MMT suggestion, but still a record nevertheless.

The Ag Min's total was up 10.8% on last season and included 24.53 MMT of wheat, 4.23 MMT of barley and 4.70 MMT of corn.

Rusagrotrans said that this year's harvest would be a post-Soviet era record 108-110 MMT, including 65.3 MMT of wheat (record), 13.8 MMT of corn (record) and 17.9 MMT of barley.

The Czech Stats Office estimated the harvest there at 6.99 MMT, 9.5% down on a year ago. Wheat production will fall 6.8% to 4.915 MMT and barley output will be 16.7% lower at 1.659 MMT, they say.

With 5 weeks of their marketing year to go Canada said that they'd exported 36.9 MMT of grains, similar to 2014/15. Wheat (excl durum) volumes are down 8% at 14.7 MMT, they say.