UK Wheat Export/Import Imbalance

The UK exported 164,492 MT of wheat in December, according to the latest customs data. That brings total exports for the 2009/10 marketing year to date to 953,594 MT, or 44% of Defra's UK target for the entire MY with six months remaining. Clearly the pace is going to have to increase somewhat to hit this season's full target of 2.161 MMT.

Conversely, the UK has already imported 734,191 MT of wheat in the first half of the marketing year, that is 76% of Defra's projected imports for the entire period of 968,000 MT.

Oh dear, it looks like we are going to import more than planned and export less.

Barley exports for the MY to date are at 491,956 MT, with a further 66,914 MT going into intervention as of Feb 11th.