Taken from HGCA weekly MI Bulletin|
To contact the HGCA phone 020 7520 3972
Click here to visit the Home-Grown Cereals Authority
HGCA reports quiet EU grain market
Tuesday, 19 October, 1999
Activity in the European grain market remained quiet last week. A limited export pace following from the modest export awards granted at MANCOM on the 7 October largely set the tone for the week.
ONIC is contemplating a plan to increase French storage capacity of grain by another million tonnes. It expanded capacity by 2.7m tonnes last season but is still faced with a gap estimated at 5m tonnes. The expansion is partly said to be a response to the demands of the new wheat classification system.
Moroccos purchase of 60,000t of French soft wheat gave French wheat prices some support. A bid for a further 10,000t to be shipped to Ethiopia also added some support to the French market.
German grain markets saw little activity as farmers were carrying out autumn fieldwork for the maize and sugar beet harvest.
The EU malting barley market remained quiet, with international business absent from the scene. Most prices saw little movement over the week.
The Danish barley trade continued to see strong buying interest from eastern European neighbours. News that Canadian supply could be hit by frosts raised hopes that interest may pick up for the European and specifically Danish product.
France has made a large shipment of malting barley to Brazil, but as of yet, nothing has arisen from the negotiations for sales to Romania, Colombia or South Africa.
Read more on: