Quite Day In Europe Due To Holidays

Posted by Nogger - a legend in his own mind at 11:02 | Categorized as

03/05/16 -- EU grains mostly lower, with fresh news scarce and some markets ckosed for May Day/Ascension Day.

May 16 Paris wheat was EUR0.75/tonne lower at EUR150.25/tonne, June corn rose EUR1.00/tonne lower to EUR161.75/tonne and new front month Aug 16 Paris rapeseed closed EUR3.50/tonne lower at EUR358.25/tonne.

In an assortment of weekend activity, Saudi Arabia were said to have bought 620 MT of optional origin hard wheat at prices ranging from $210-220 C&F for Jul/Aug shipment in various cargo sizes.

Thailand were said to have booked 50,000 MT of option origin feed wheat and Algeria bought 140,000 MT of corn and 40,000 MT% of feed wheat both of optional origin. Israel are expected to tender for 140,000 MT of corn and 30,000 MT of optional origin feed wheat for Jun and September shortly.

The situation in Europe continues to look pretty good, with the EU Commission calling for a soft wheat crop of 148.2 MMT in 2016 versus 151.3 MMT a year ago. Ending stocks in 2016/17 are still intimated 600,000 MT higher though at 189.1 MT.

Corn production in 2016/17 will jump more than 11% to 64.7 MMT meanwhile, they add.

For the last week of April Ukraine's grain exports via seaports were up around 1000 MT To 515.3MMT, say APK Inform. Wheat accounted for 237.2 TMT of that total and, another 171.4 TMT and barley 106.7 TMT, they added.