EU Grains Mixed, France To Lose Ground On Export Front In 2016/17

09/08/16 -- EU grains finished mixed. London wheat was higher on the back of a weak sterling.

The day ended with Nov 16 London up GBP1.05/tonne at GBP128.05/tonne, Sep 16 Paris wheat was EUR0.50/tonne lower at EUR165.00/tonne, Aug corn was down EUR0.50/tonne at EUR165.00/tonne and Nov 16 rapeseed was up EUR1.75/tonne to EUR371.25/tonne.

French analysts Agritel said that the country would fail to top the list of Europe's leading wheat exporting nations for the first time ever in 2016/17.

That honuor this season will go to Germany with exports of 6.65 MMT. By contrast French exports will drop 60% to just 5.81 MMT (12.81 MMT in 2015/16).

German production will fall, but only from 26.5 MMT to 25.5 MMT, they estimate. French output on the other hand will only muster 28.68 MMT after hitting almost 41 MMT a year ago.

Harvest works carry on in the North of France and yields and specific weight remain disappointing, they say. They estimate final yields this year at only 5.48 MT/ha versus 5.57 MT/ha from tha Ag Ministry late last week and 7.92 MT/ha a year ago.

The Russian harvest trundles on, at 62.5 MMT off 17.7 million ha (37.4% of plan). Average yields are 3.54 MT/ha against 3.10 MT/ha a year ago.

Wheat accounts for 45.7 MMT of that total (42.4%) and barley 9.2 MMT (37.3%).

The Ukraine Ag Min said that the country would harvest 60.8 MMT of grains this year (60.0 MMT in 2015), including a corn crop of 24 MMT.

The wheat harvest is 97% complete at 25.65 MMT in bunker weight. Yields are pegged at a record 4.25 MT/ha.