MARS Report EU Grains Yield Potential Little Different To 2015

23/03/16 -- EU grains closed mixed, but mostly a touch higher.

At the finish, front month Mar 16 London wheat was up GBP0.20tonne at GBP104.75/tonne, May 16 Paris wheat was EUR0.75/tonne easier at EUR155.00/tonne, Jun 16 corn was up EUR0.25/tonne to EUR154.00/tonne and May 16 rapeseed was down EUR2.50/tonne at EUR362.75/tonne.

Th EU Commission's MARS unit gave us their first look at potential yields here this year, in which they fit very closely to the forecasts of other leading analysts, Coceral, Copa-Cogega etc.

They are calling for these to fall around 5% in the case of both wheat and barley this year whilst corn yields will more than double to nearly 11%.

Conditions are pretty good and maturity levels are strong after a pretty benign winter, they note. New crop prospects are therefore described as promising.

On the international scene, we can note a tender from Israel in 65,000 MT of corn and 35,000 MT of feed wheat.