Paris Grains Quiet With UK/US Markets Closed

Posted by Nogger - a legend in his own mind at 19:22 | Categorized as

25/05/15 -- EU grains closed mixed in a quiet session with London and America both closed for holiday. The day ended with Sep 15 Paris wheat unchanged at EUR182.50/tonne, Jun 15 Paris corn was down EUR1.25/tonne at EUR153.00/tonne and Aug 15 Paris rapeseed rose EUR0.25/tonne to EUR359.25/tonne.

Fresh news of any great note was relatively thin on the ground as you might expect.

The euro was weaker following comments by a Greek minister over the weekend that the country would not, and did not have, the capital needed to pay the IMF the EUR1.6 billion it is owed in June.

APK Inform said that Ukraine seaports had shipped out 502.9 TMT of grains last week, up sharply versus 132.7 TMT the week previously. The top homes were Egypt (67.1 TMT), the Netherlands (51.5 TMT), China (48.2 TMT) and Italy (46.6 TMT).

They said that corn accounted for 81% (407.4 TMT) worth of last week's exports, with wheat only 14% and barley the remaining 5%.

The Ukraine Ministry said that grain exports for the season (to May 20) stand at 31.12 MMT, including 16.1 MMT of corn, 10.38 MMT of wheat and 4.41 MMT of barley.

Russian seaports meanwhile exported a more modest 112.3 MMT of grains last week, down from 125.6 TMT the previous week. That total included 78.2 TMT of wheat, 17.2 TMT of corn and 12.2 TMT of barley.

Russia's grain exports since the Feb 1 duty on wheat was introduced stand at 4.93 MMT, down around 25% on a year previously. Wheat exports during that period are down 62% at 1.67 MMT. Barley exports were up more than threefold at 1.68 MMT and corn exports were down 15% at 1.42 MMT.

Russia's season to date grain exports are still up 17% on a year ago at 28.25 MMT, including wheat shipments that are 14% higher at 20.14 MMT, barley exports up more than 200% at 5.02 MMT whilst corn exports are down by 30% to 2.64 MMT.

Spain said that it had imported 266 TMT of wheat in March, with France (92.6 TMT), the UK (68.1 TMT) and Denmark (32.6 TMT) the leading suppliers.

Spain also imported 673 TMT of corn in March, of which 62% (418.5 TMT) came from Ukraine and 26% (177.1 TMT) from France.

The Indian government said that it had now purchased almost 26.5 MMT of the intended 30 MMT of new crop wheat that it plans to buy off local farmers this year.