29.
11.23
09:06

EU wheat exports remain significantly behind last year's volumes

Wheat prices rose yesterday. In Paris, the most traded March date closed with an increase of 0.75 euros/t. The December date will soon be leaving the trading floor and is only being traded a little, but was also able to gain yesterday. Things remain quiet on the cash markets. Farmers in particular continue to show only limited willingness to donate. In many regions, the snowfall yesterday also brought logistics to a halt. Discussions and agreements are currently taking place on a small scale for the coming harvest. Internationally, some domestic goods lack competitiveness. The euro has continued to stabilize and EU exports are at a low level at 112,000 tons last week. However, it should be noted that export quantities from Bulgaria and Italy are currently missing due to technical transmission problems. Overall, 18 percent less common wheat was exported in the current season than in the same period last year. The export count stands at 11.99 million tons. The wheat harvest is already underway in Argentina and farmers in Australia have also started threshing.The harvest quantity down under is expected to be only half as high as last year, but the Australians are satisfied with the quality of the first harvests, particularly the protein values are excellent. Export volumes in the USA have recently been disappointing. In the previous week, only 275,000 tons were loaded, another 25 percent less than the previous week. In the crop report released after the trading session last month, the USDA raised the condition ratings for winter wheat areas by two percentage points in the “good” and “very good” categories. 50 percent of the stocks are seen in the two best categories. The fact that prices were able to increase despite the good condition assessments and weak loadings is also due to increased bargain purchases due to the setbacks of the past few weeks. In addition, the USDA was able to announce two export deals yesterday for 110,000 tons to Taiwan and 95,000 tons to South Korea. There are also green signs ahead of the trading session today.

Source
VR AGRICULTURE
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