EU wheat exporters eye of the euro

The loss in value of the euro against the U.S. dollar to a one-year low could give again impetus to the EU wheat export. France quality malaise will lead this year, Germany will make additional sales to Algeria and Saudi Arabia, so the assessment by traders and analysts.
Total wheat exports from the EU to the lowest level will fall but for three decades, since the exportable surplus by French crop is limited, as well as large harvests in Russia and the United States of America dominate the world market. The EU will thus lose market share, the United States and Russia are winners. With a strong dollar, but also the US exporters have it harder against exports from the Black Sea region.
The exchange rate of the euro has fallen against the U.S. dollar to its lowest level for almost a year after Donald Trump has won the presidential election in the United States and the Federal its policy rates will raise reserve next month.
THE USDA estimates that the EU will, provide its leading position among the world's wheat exporters to Russia the United States come after that before the EU's number two. Good exports from the first days of the Vermarktungssaison from Great Britain, Poland and Romania but ensured that exports from the EU higher than initially expected.
Exports from the UK and other EU countries have doubled in the first three months of the season compared to the previous year due to the weakness of the pound. So, the British had sold the lion's share of its wheat exports to Algeria in September and thus replaced the usual supplies from France to North Africa. Deliveries from Britain, Poland and Romania are likely to slow down now and the second half of the marketing period will be operated mainly from Germany.
Analyses assume that Germany will displace 2016/17 France from the first square of EU exporters during the season. Strategy of grains estimates that Germany will execute 6 million tons to third countries, while France exported 4.5 million tons. In addition, France will make even unusual wheat imports. The euro remains weak, so would the Germany and other northern European countries help to put wheat on the world market though also Argentina just wants to increase its exports after the harvest in January.
As long as himself but stop the euro exchange rate against the DOLLAR under 1.10, Germany and the Baltic States could get more export orders from Algeria and Saudi Arabia, German retailers believe.
Exports remain but manageable after traders behave more cautiously against Egypt, go their conditions of purchase be borne by the supplier. Russia has used this uncertainty and by bilateral agreements with Egypt loaded its surpluses there. After crude oil prices below the 50-dollar mark slipped, the purchasing power of oil-exporting countries like the Iraq has fallen and the wheat purchases are moved as far as possible.

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