EU Grains Mixed, Could France Be Set For Second Record Wheat Crop In A Row?

26/04/16 -- EU grains closed mixed. with front month May 16 London wheat was down GBP0.60/tonne at GBP104.65/tonne, May 16 Paris wheat was EUR0.75/tonne lower at EUR151.75/tonne, Jun 16 corn was up EUR1.15/tonne to EUR161.75/tonne and May 16 rapeseed tumbled EUR2.75/tonne at EUR372.00/tonne.

According MARS, the European crop monitoring service, winter crop conditions in Europe are improving. They rated winter wheat yield potential in 2016 at 6.11 MT/ha versus 5.96 MT/ha seen last month. For winter barley, yields have been upgraded to 5.97 MT/ha vs 5.82 MT/ha and for rapeseed to 3.35 MT/ha vs 3.31 Mt/ha.

Potential corn yields were lowered from 7.12 MT/ha to 7.06 MT/ha however.

"Crop growth conditions have been good in most regions of Europe," Mars said.

"In most regions, weather conditions have been favourable for winter crop growth and spring sowings," Mars said.

"In general, the current prospects for EU-28 yields are above the five-year average, and the forecast for total cereals has increased compared to our last bulletin, reflecting the generally good growth conditions".

France is said to be "benefiting from good conditions," with above-trend yields expected. Note that French growers have planted an 80-year high winter wheat area, and current crop conditions are ahead of a year ago when a record crop was brought in.