UK Grain Exports Latest

The UK exported 172,402 MT of wheat in September, bringing the cumulative total for the marketing year which began on July 1st to 438,169 MT, say Defra.

You might recall that Defra recently pegged the UK exportable surplus at 2.16 MMT, although that inexplicably made no allowance for usage from the bioethanol sector.

With Ensus set to shift into production in January, there is clearly likely to be a significant hole made in that during the first half of 2010.

Exactly how big a hole that will be remains to be seen, Frontier's latest market report suggests that 450,000 MT might be close to the mark.

If they're right, then that leaves us with a surplus of 'only' around 140,000 MT per month to export during Oct 09/Jun 10, which would not appear to be an unachievable target by any stretch of the imagination.

We also exported 107,386 MT of barley in September, taking the current MY total to 263,437 MT, said Defra. That's slightly above last year's pace of 215,315 MT, but still leaves plenty to be exported or go into intervention.