The prospect of another year with a large range of cereals and renewed competition from Russia "clouds" the European wheat market sentiment, although the EU is probably listed for the second time in a row of record exports. The EU-28 will probably export 2014 more than 30 million tons of wheat from the harvest and has thus ousted the United States from the number one position on the world market for grain exports.
Fleet exports, a weak euro and France deliveries to Asia have drain more grain from last year's bumper crop, as first suspected. The abolition of high Russian tariffs for wheat exports now but increased competitive pressure, especially as global offer mostly ideal weather conditions will remain for the time being large. It was good grain harvests in North Africa.
The Weizenendbestände France, fail according to a flash estimate by FranceAgriMer 53% higher than in the previous year and amount to 3.6 million tons at the end. Although considerably less than these are the 4.55 million tons, of which it had assumed at the beginning of the marketing period, simultaneously also may send stocks will be higher. However, barley outsells the new crop wheat. Wheat competes as a feed with corn. The high maize stocks could prove problematic for the wheat price. Much depends also on the exchange rates.
