EU Grains End Choppy Session Mostly Lower

Posted by Nogger - a legend in his own mind at 09:10 | Categorized as

14/01/14 -- EU grains finished a choppy session mostly lower, having begun the day on a generally firmer footing.

Jan 14 London wheat finished the day down GBP1.05/tonne at GBP154.50/tonne, whilst new crop Now 14 London wheat ended GBP0.25/tonne lower at GBP146.75/tonne. Mar 14 Paris wheat was unchanged at EUR195.00/tonne, Mar 14 corn was down EUR1.25/tonne to EUR172.50/tonne, whilst Feb 14 Paris rapeseed closed EUR1.50/tonne higher at EUR361.75/tonne.

There are signs that UK wheat imports are finally slowing up. November imports fell to 129,483 MT versus 221,190 MT in October. Even so cumulative imports for the 2013/14 season (Jul/Nov) still totalled 1.18 MMT versus 1.03 MMT a year previously. Bulgaria was the leading supplier in November.

UK barley exports were 177,526 MT in November, taking the 2013/14 marketing year to date total to 635,564 MT, more than double the 280,463 MT exported in the same period in 2012/13.

Defra said that 535.5 TMT of wheat was milled in the UK in the four weeks to 23 Nov 2013, a 3.1% decline on the same period in 2012. Of that total less than 90 TMT was imported, a fall of almost 30% versus 2012.

Ukraine's Ag Ministry upped their estimate for 2013/14 grain exports to a record 33.0 MMT versus 23.5 MMT in 2012/13. They said that Ukraine has already exported 20.0 MMT of grains, mostly corn, this season.

UkrAgroConsult said 92% of Ukraine’s winter grain crops are in good condition.

The Argentine government approved 1.5 MMT of wheat for export, prompting debate that Brazil may now cancel some US purchases and switch back to Argentine wheat.

Oil World said that the Jul-Nov EU rapeseed crush was 10.3 MMT versus 9.9 MMT a year previously.

Belarus said that they aim to produce "at least" 9 MMT of grains in 2014, a rise of 18.4% versus last year.