EU Grains Mixed Ahead Of French Crop Conditions Report

14/07/16 -- EU grains finished mostly mixed.

The day ended with Jul 16 London unchanged at GBP111.75/tonne, Sep 16 Paris wheat was down EUR3.25/tonne at EUR158.50/tonne, Aug corn was up EUR0.25/tonne lower at EUR173.75/tonne and Aug 16 rapeseed rose EUR2.75/tonne to EUR364.25/tonne.

Sterling got a mini-boost from the BoE's decision to leave interest rates unchanged when many had been expecting a cut. Still, the market believes that they are just delaying the inevitable.

Russia said that their harvest now stands at 18.2 MMT off 4.3 million ha with an average yield of 4.25 MT/ha, up 14% on a year ago.

That total includes 14.1 MMT of wheat and 2.5 MMT of barley.

The head of ProZerno told reporters that Russia might harvest 112 MMT of grains this year for a post-Soviet era record.

Ukraine said that they'd harvested 10.6 MMT of early grains off 32% if the planned area. That includes 5.615 MMT of wheat and 4.538 MMT of barley. Harvesting of the latter is alread 50% complete.

All eyes tomorrow will be on the latest French winter wheat conditions from FranceAgriMer. They've cut good to very good ratings by 6 percentage points in each of the last two weeks.