EU Wheat Ends Flat/Lower

EU wheat closed unchanged to slightly lower Friday, with little in the way of end-user buying in evidence to support the market.

Paris November milling wheat closed down EUR1.25 at EUR120.00/tonne and London November feed wheat closed flat at GBP92.25/tonne.

Farmers remain reluctant sellers at these levels, and are busying themselves with wrapping up the last of the harvest in the first prolonged fine and sunny spell that the north and west have seen for quite a while.

In the UK the winter wheat harvest is around 90% complete, according to ADAS. An estimated 70% of the spring barley is in, with a similar area of spring OSR also cut, they add.

The UK national average wheat yield is expected to be close to the UK five year average of 7.9t/ha but ranges from 5.0 to 12.5 t/ha, they say. The quality of recently harvested grain is still good with specific weights of 71-76 kg/hl, Hagbergs of 220-280 (higher in northern regions and Scotland) and protein 12-13%.

The USDA raised it's global wheat production estimate by 4MMT to 663MMT (682MMT in '08/09) on the back of higher production in the EU and Russia. The increase in production leads to ending stocks for the '09/10 season standing at 186MMT (169MMT '08/09).