EU Grains Mixed But Slide Mostly Lower, Fresh News Lacking

Posted by Nogger - a legend in his own mind at 08:32 | Categorized as

16/11/15 -- EU grains closed mixed but slid mostly lower on the day. Fresh news was scarce, although concerns over Friday's late terrorist attacks in Paris seemed to cause some market unease and foster a bit more of a "risk-off" mentality.

At the finish, Nov 15 London wheat was down GBP0.30/tonne at GBP112.25/tonne. In Paris, Dec 15 wheat was EUR1.00/tonne lower at EUR176.00/tonne, Jan 16 corn was up EUR1.25/tonne EUR167.25/tonne and Feb 16 rapeseed was down EUR0.75/tonne to EUR371.75/tonne.

Ukraine said that their 2015 grain harvest was 97% complete at 58.2 MMT. The State Stats Service says that this includes 27.3 MMT of wheat and 8.6 MMT of barley. The corn harvest is now reported at 90% complete on 3.7 million ha for a crop of 20.3 MMT so far.

The Ukraine Ag Ministry predict a final grain harvest of 59.5 MMT, including final corn production of 24.5 MMT. Total 2015/16 grain exports are forecast at a record 36.8 MMT.

The Ministry say that final rapeseed production in the country this year was 1.77 MMT, and that the soybean and sunflower harvests are just about complete at 3.7 MMT and 10.95 MMT respectively.

APK Inform reported that Ukraine seaports shipped out 1.027 MMT of grains last week, up from 715.2 TMT the previous week. Last week's exports included 305 TMT of wheat, 722.6 TMT of corn and 30 TMT of barley. Shipments of the latter now seem close to finished for the season.

Ukraine's top export home last week was Egypt (183.7 TMT) followed by Spain (115.3 TMT).

Russia's seaports weren't as busy as Ukraine's last week, shipping out 563.7 TMT of grains, down from 638.1 TMT the previous week. That included 472.4 TMT of wheat, 56.7 TMT of corn and 34.6 TMT of barley.

Russia's Jul 1 - Nov 11 grain exports are down 9.5% year-on-year at 14.7 MMT, of which more than 76% (11.23 MMT) is wheat.

The Russian 2015 corn harvest is said to be now 86.6% complete at 12.2 MMT.

Russian winter grain plantings for the 2016 harvest are reported at more than 95% complete on 16.3 million ha (versus 16.7 million a year ago. Ukraine winter plantings are said to be 89% complete on 6.6 million ha, 1 million less than this time last year.

The 15-day forecast for both countries is generally wetter and warmer than normal.