EU Grains Close - Thursday

Posted by Nogger - a legend in his own mind at 12:29 | Categorized as

05/01/17 -- EU grains closed with little change on the day. The outlook for a weaker sterling ahead continues to support London wheat. Trade is flat with some participants still absent following the Christmas break.

At the finish Jan 17 London wheat was up GBP1.40/tonne at GBP141.30/tonne, Mar 17 Paris wheat was up EUR0.25/tonne at EUR170.00/tonne, Mar 17 Paris corn ended unchanged at EUR169.50/tonne and Feb 17 Paris rapeseed closed EUR1.00/tonne lower at EUR418.00/tonne.

France reported a 29% drop in exports from the leading port of Rouen in the week ending January 4th, to 53 TMT. That week’s total included 23.45 TMT of soft wheat to Tunisia and 29.5 TMT to Yemen.

Algeria are said to have bought up to 475 TMT of optional origin soft wheat at a around $198-$202/MT C&F.

Russia said that their 2016/17 grain exports were down 3.7% at 19.73 MMT. That includes 15.44 MMT of wheat, 1.83 MMT of barley and 2,32 MMT of corn.

Ukraine’s 2017 corn crop is estimated to be down 13%, or 3.5 MMT, to 23.5 MMT, according to UkrAgroConsult.