German Grain Company KTG Withdraws From Market

Germany's largest farming company KTG Agrar AG are to withdraw from selling newly harvested wheat, rapeseed and soon to be cut corn, preferring instead to store their crops and wait for higher prices, according to a report on Reuters.

The company is one of just a few publicly-listed farmers in Europe, says it farms around 25,000 hectares and expects to produce around 320,000 MT of grains and oilseeds this year, of which about 25% are organic.

Bemoaning the fact that eastern Europe sells their crops at "more or less any price in the market" at this time of year, KTG will sit tight and wait for better money to be available November/December their CEO told Reuters.

KTG are clearly doing alright thank you very much, reporting half year profits up by more than 50% to EUR2.4 million.