EU Grains Slip Mostly Lower Tuesday

Posted by Nogger - a legend in his own mind at 10:05 | Categorized as

10/01/17 -- EU grains closed mostly lower Tuesday. Fresh news was thin on the ground.

At the finish Jan 17 London wheat was down GBP0.80/tonne at GBP143.35/tonne, Mar 17 Paris wheat fell EUR1.25/tonne to EUR169.75/tonne, Mar 17 Paris corn ended EUR0.75/tonne lower at EUR169.00/tonne and Feb 17 Paris rapeseed closed EUR1.75/tonne higher at EUR415.50/tonne.

Ukraine said that it's 2016/17 grain exports had now surpassed 23 MMT, of which 11.5 MMT was wheat ,4.3 MMT barley and 7.1 MMT corn. According to their Ag Ministry exports this full season could total 40 MMT.

The Ukraine weather centre said that 83% of winter crops were in a good to satisfactory condition, and 17% weak/thinned. Current winter snow cover is adequate to protect the bulk of crops against the existing very low temperatures, they said.

Russia experienced a significant slowdown of export pace during December 2016 with 3.3 MMT of cereals shipped which is -0.7 MMT under the November volume or -0.8 MMT below December 2015, noted Agritel.

"More than weather conditions or festivities period, this slowdown is due to the decline of commodities on domestic market implied by the strength of the rouble," they commented.