EU Grains Close
29/04/11 -- London trading was closed for the royal wedding, although trade continued as normal across the Channel. May Paris wheat closed up EUR4.00/tonne at EUR244.50/tonne whilst Nov was EUR5.00/tonne higher to EUR215.75/tonne.
Expiring May rapeseed crashed EUR/17.25tonne to EUR452.25/tonne, although other months were only down nominal amounts. The pound and euro both remain close to 17-month highs against the dollar set earlier in the week, capping gains.
Spotty rains continue to fall across parts of France, Germany and the UK. I can personally vouch for the latter, the windscreen wipers were required (and at some points not on intermittent either!) on a trip to the east coast today. A drought-buster however it unfortunately wasn't.
The radar is currently showing heavier and more concentrated rainfall building across northern France in late afternoon (click image to enlarge).
Some of these rains may make it across the Channel overnight to affect the south and SW of England in the morning. For the rest of us further north and east it looks like we will have to wait for another day for our next rainfall opportunity forecast to come in the second half of next week.
Brussels announced 272,000 MT of soft wheat export licences have been issued this past week, bringing the marketing year-to-date total to 16.5 MMT, 12% up on this time last year.
Pakistan has started selling it's new crop wheat harvest, booking deals with Malaysia, Asia and the Middle East. South Korea have also been active this week buying feed wheat and Jordan buying milling wheat. Saudi Arabia is also said to have bought 900,000 MT of barley earlier in the week.
