EU Grains Mixed, Treading Water

Posted by Nogger - a legend in his own mind at 19:59 | Categorized as

24/11/15 -- EU grains closed mixed with Jan 16 London wheat up GBP0.05/tonne at GBP113.80/tonne, Dec 15 Paris wheat down EUR1.25/tonne to EUR176.00/tonne, Jan 16 corn unchanged at EUR167.50/tonne and Feb 16 rapeseed EUR2.50/tonne higher to EUR377.00/tonne.

The market appears to be treading water, with fresh news thin on the ground.

Ukraine said that winter grains there are 90% planted on 6.64 million ha versus 7.65 million ha this time a year ago.

Wheat is said to be 90% sown on 5.63 million ha, and barley 83% done on 864k ha.

The Ukraine winter rapeseed crop is only planted on 79% of the original government forecast at a surely over 648k ha.

The Ukraine 2015 grain harvest now stands at just over 59 MMT off 98% of the planned area. The corn harvest is now 93% done on 3.82 million ha for a crop of 21.19 MMT to date.

Russia said that it's 2015 harvest is now 99% complete at 108.1 MMT in bunker weight. The ongoing corn harvest is now 88.5% done at 12.4 MMT.

Russian plantings for the 2016 harvest remain stalled at 16.3 million ha, or 95.2% of the government's aim, versus 16.8 million ha this time a year ago.

Algeria are tendering for 75,000 MT of optional origin feed barley for December shipment.

Oil World said that the EU had imported 7.17 MMT of oilmeals in the final quarter of 2014/15, up from 6.55 MMT a year previously. That brings the total 2014/15 oilmeal imports to 27.14 MMT versus 26.61 MMT in 2013/14.

Soymeal accounted for almost 77% (20.86 MMT) of 2014/15 imports.

Oil World also said that the EU 2015 sunflower crop would fall to a 3-year low of 7.76 MMT, down 13% on a year ago.