London Wheat Closes At Best Since Jun 2014

Posted by Nogger - a legend in his own mind at 09:41 | Categorized as

09/01/17 -- EU grains closed mixed but to start the week. London wheat got assistance from a wobbly pound. This was the best front month close on the continuous chart for London wheat since June 2014.

At the close Jan 17 London wheat was up GBP1.50/tonne at GBP144.15/tonne, Mar 17 Paris wheat was EUR0.25/tonne easier at EUR171.00/tonne, Mar 17 Paris corn was unchanged at EUR169.75/tonne and Feb 17 Paris rapeseed was down EUR2.50/tonne to EUR412.75/tonne.

APK Inform reported that Russia's grain exports for the two week period ending Jan 5 came in at almost 1 MMT, including 774.2 TMT of wheat, 179.9 TMT of corn and 30.9 TMT of barley.

Ukraine's exports in the same period were almost 1.5 MMT, including 491.2 TMT of wheat, 967.9 TMT of corn and 32.2 TMT of barley.

French soft wheat exports are down 33% Jul/Nov at 4.1 MMT. Nov exports of only 656 TMT marked the sixth straight month of decline for what is traditionally Europe's largest exporter.

FranceAgriMer currently forecast total French exports in 2016/17 down 47% at 10.1 MMT versus last last season.

Bangladesh's wheat imports surged 85% in the July 1-Dec 22nd period to 2.79 MMT. Imports for the whole of 2016/17 are currently estimated to rise 400 TT to 5.1 MMT, according to the latest data from the USDA.