The day ended with Jul 16 London down GBP2.00/tonne at GBP110.00/tonne, Sep 16 Paris wheat was down EUR3.50/tonne at EUR152.25/tonne, Aug corn was also EUR3.50/tonne lower at EUR169.75/tonne and Aug 16 rapeseed tumbled EUR2.75/tonne to EUR357.75/tonne.
For the week London wheat gained GBP1.00/tonne, Paris wheat fell EUR8.00/tonne, corn was down EUR5.50/tonne and rapeseed gained EUR5.75/tonne.
Harvest pressure seems to be counting for more than worries over excessive rains causing wholesale quality downgrades in western Europe.
FranceAgriMer today cut the proportion of the French winter wheat crop rated good to very good to 65%, some 6 points down on the week. That makes for a 10 point reduction in the last two weeks alone, and for one of 20 points in the last 7 weeks. This time a year ago 77% of the French crop was rated G/VG.
Winter barley ratings fell 3 points from a week ago to 62% G/VG (86% this time last year). Spring barley G/VP dropped from 76% to 71% (73% a year ago). Corn conditions were down 1 point to 68% G/VG.
The winter barley harvest is 3% done nationally, with 23% of the crop already cut in the southern Poitou Charentes region as of Monday night.
Anybody watching the Wales/Belgium (well done Wales!) game in northern France last night will not have failed to notice that it rained heavily throughout the entire game.
The harvest rumbles on in counties like Russia and Ukraine though and early yields are showing a huge improvement on a year ago.
The Russian harvest has now produced 4.3 MMT of grains so far, with yields up 14% at 4.26 MT/ha. The Ukraine harvest is 4% complete producing a crop of 1.18 MMT, with yields up 17% at 3.57 MT/ha. These are both using official Ministry numbers, but anecdotal reports from the field do confirm sharply higher yields.
Agritel report the following Ukraine grain prices at port basis new crop delivery: 12.5% milling wheat $155; 11.5% $152; feed wheat $145; corn $153; OSR $380; soybeans $395.
Brussels confirmed the release of 489 TMT of soft wheat export licences this past week, taking the seasonal total to 31.15 MMT, just shy of last season by 188 TMT. Some 10.3 MMT of that total was awarded to French sellers. Barley export licences totalled 10.1 MMT, an 11% rise versus 2014/15, of which France picked up 2.4 MMT worth.