French Crop Conditions In Decline

27/05/16 -- EU grains finished mixed at the close of the week, with Jul 16 London wheat up GBP0.05/tonne at GBP106.55/tonne, Sep 16 Paris wheat down EUR0.25/tonne at EUR167.00/tonne, June corn was EUR01.75/tonne higher at EUR171.25/tonne and Aug 16 rapeseed was down EUR0.25/tonne to EUR374.00/tonne.

For the week, London wheat fell GBP0.45/tonne, Paris wheat rose EUR3.50/tonne, corn added EUR5.00/tonne and rapeseed gained EUR4.75/tonne.

The continent therefore continues to perform better than the UK. The pound gained 1.1% against the euro during the course of the week, and is up by 6.4% versus the single currency since Apr 7th.

Also supporting EU grains this week have been US corn prices at 10-month highs and Chicago soybeans and meal hitting their highest levels since 2014.

FranceAgriMer said that the French winter wheat crop was now 57% headed as of Monday, up from 31% a week ago, but behind 74% this time last year. Winter barley is now 100% headed (the same as a year ago - they'll be harvesting the early crop in south within a month). Spring barley is 7% headed against 5% a week ago and 12%^ a year ago.

As far as crop conditions go, they're in decline, although still at historically fairly high levels. Winter wheat rated good to very good was down to 83% from 85% last week and 91% this time last year.

Winter barley was 83% good to very good (down 1 point on last week and 6 below last year). The second weekly corn ratings of the year had the crop rated 85% good to very good, down one point on last week and 3 points below this time last year.

Ukraine said that their 2016 corn crop was 97% planted on 4.37 million ha. Sunflower seed (99% done) and soybean plantings (88% complete) are also on the last leg.

Russia said that they are 87% sown on spring grains.