EU Wheat Exports/Imports
Twenty-nine weeks into proceedings, the EU has issued export licences for 12.07mmt of soft wheat so far this marketing year, well ahead of 3.47mmt at the same time last season, whilst total all-grain exports have almost doubled to 17.93mmt.
Import licences for wheat are running at 4.5mmt, 0.8mmt ahead of last year. Most significantly though, import licences for all-grains total 7.86mmt, well down on 16.77mmt a year ago.
This reflects a switch back into wheat for animal feed consumption and away from imported corn and sorghum that began twelve months ago when world wheat prices peaked.
Import licences for wheat are running at 4.5mmt, 0.8mmt ahead of last year. Most significantly though, import licences for all-grains total 7.86mmt, well down on 16.77mmt a year ago.
This reflects a switch back into wheat for animal feed consumption and away from imported corn and sorghum that began twelve months ago when world wheat prices peaked.
