FranceAgriMer Slash French Wheat Ratings Again

15/07/16 -- EU wheat closed little changed on the day. or for the week come to that.

At the close Jul 16 London wheat was unchanged at GBP111.75/tonne. Sep 16 Paris wheat closed up one euro at EUR159.50/tonne, Aug 16 corn was unchanged at EUR173.75/tonne and Aug 16 rapeseed was down EUR3.75/tonne at EUR360.50/tonne.

For the week London wheat was unchanged, Paris wheat added half a euro, corn gained EUR2.75/tonne and rapeseed firmed EUR8.00/tonne.

FranceAgriMer slashed French wheat crop conditions again, down by 10 points in the good to very good category with just 49% of the crop now rated there versus 76% a year ago.

Crop ratings have now plunged 22 points in the last three weeks and their run for the last eight is an uninspiring -2, -2, -2, -3, -4, -6, -6, -10 for a 35 point decline in 2 months.

Winter barley rated good to very good fell 11 points to 44% versus 86% a year ago. Spring barley was down 5 points to 62% (2015: 65%). Corn ratings were unchanged at 69% good to very good (2015: 67%).

They said that the soft wheat harvest is 7% complete nationally versus 31% a year ago. Winter barley is 77% against 92% this time last year.

French corn at the silking stage is only 3% against 43% this time last year.

No wonder then that French wheat wasn't even offered in this week's Egyptian tender, it's looking like a much higher percentage than normal of their crop will only be suitable for feeding this year.

Late in the day Egypt tendered for more wheat for Aug 21-30 shipment with the results expected over the weekend.

Algeria were said t have bought 400,000 MT of wheat, most likely of German, Polish, Baltic origin.