EU Wheat Ends Mixed
EU wheat futures closed mixed Monday with March London wheat ending GBP0.45 higher at GBP92.75/tonne and Paris March wheat EUR2.50 lower at EUR116.75/tonne.
In the UK, barley intervention offers were up 29k MT last week, bringing cumulative net offers to 88k MT this season so far.
The new Ensus refinery on Teesside is finally up and running, albeit at only 50 percent capacity currently, according to trade reports. At that rate they should have a requirement for around 1,500 MT of wheat per day.
With wheat prices having fallen sharply since the turn of the year consumers feel under little pressure to commit themselves for the time being.
Winter wheat is coming out of dormancy in many parts of Europe and although excessive rains might be a problem in southern areas like Spain, Italy and Portugal, things are looking pretty good in generally more productive countries like France, Germany and the UK.
The USDA are out on Wednesday with ending stocks estimates for US wheat, with a minor reduction expected in the region of 10 million bushels.
No major revisions are anticipated to the world production numbers, although it is possible that last seasons output from China could be downsized.
In the UK, barley intervention offers were up 29k MT last week, bringing cumulative net offers to 88k MT this season so far.
The new Ensus refinery on Teesside is finally up and running, albeit at only 50 percent capacity currently, according to trade reports. At that rate they should have a requirement for around 1,500 MT of wheat per day.
With wheat prices having fallen sharply since the turn of the year consumers feel under little pressure to commit themselves for the time being.
Winter wheat is coming out of dormancy in many parts of Europe and although excessive rains might be a problem in southern areas like Spain, Italy and Portugal, things are looking pretty good in generally more productive countries like France, Germany and the UK.
The USDA are out on Wednesday with ending stocks estimates for US wheat, with a minor reduction expected in the region of 10 million bushels.
No major revisions are anticipated to the world production numbers, although it is possible that last seasons output from China could be downsized.
