EU Grains Mostly Higher To Start Week

Posted by Nogger - a legend in his own mind at 09:08 | Categorized as

19/09/16 -- EU grains closed mostly higher to start the week.

The day ended with Nov 16 London wheat up GBP0.80/tonne at GBP124.40/tonne, Dec 16 Paris wheat was up EUR1.75/tonne at EUR160.75/tonne, Nov 16 corn rose EUR0.25/tonne to EUR160.75/tonne and Nov 16 Paris rapeseed was up EUR2.25/tonne to EUR374.75/tonne.

Egypt's Gasc held another fruitless wheat tender, picking up no offers in an effort to buy wheat for October shipment under the new strict zero tolerance to ergot rules.

APK Inform said that Russian grain exports via seaports fell to only 229.4 TMT last week, down from 429.8 TMT the previous week. Of the total shipped, 112.9 TMT was wheat, 77.5 TMT was barley and 32.5 TMT was corn.

Ukraine's seport exports were also down, but still considerably higher than Russia's at 596.1 TMT (819.7 TMT the previous week), of which 480.8 TMT was wheat, 104.5 TMT was barley and 10.8 TMT was corn.

Russia's season to date exports are down 2.7% year-on-year at 7.45 MMT (wheat 6.32 MMT, barley 1.0 MMT and corn 94 TMT).

Ukraine's exports so far are 8.51 MMT, of which 5.1 MMT is wheat, 2.75 MMT barley and 583 TMT corn.

The 2016 Russian harvest is now 83.9% done according to the Ag Ministry, standing at 105.5 MMT off 39.7 million ha. That includes 72 MMT of wheat (89.7% harvested), 18.3 MMT of barley (92.9% done) and 2.1 MMT of corn (14.1% complete).

Russian plantings for the 2017 harvest are said to be 54.3% done on an area of 9.4 million ha (versus 9.0 million a year ago).

Oil World estimated Australia's 2016 rapeseed crop at 3.6 MMT (up sharply from 2.94 MMT a year ago, despite only a 4% rise in planted area).