EU Wheat Exports 28 Pct Down

Almost halfway through the marketing year the EU has granted export licences for 7.8 MMT of soft wheat, 28% down on the 10.8 MMT granted at the same time last year.

The figures make pretty gruesome reading, total GRAIN exports are even further behind, 40% down at 9.6 MMT.

Unfortunately this situation is mirrored here in the UK where July-Oct wheat exports are half that of twelve months ago at 582,380 MT, whilst wheat imports are actually up by over 100,000 MT to 526,730 MT. That means that we've imported almost as much wheat as we've exported!

I've cancelled my order for a Nintendo Wii and asked Santa for a bioethanol refinery for Christmas instead, I suggest that you all do likewise.