Taken from HGCA weekly MI Bulletin|
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Marginal rise in EU prices HGCA
Tuesday, 11 April, 2000
European milling wheat prices were marginally up last week, with French prices in Creil going up by 2.3/t. Feed wheat was up across most Member States, with Germany seeing a 5.0 increase on the previous week.
European feed barley was largely unchanged to slightly higher last week. Malting barley prices rose marginally, with the exception of Denmark where
prices fell by 5.1 in what was said to be a thin market.
ONIC, the French cereals office, has predicted that the French carryover for 1999/00 wheat will be 7.4 million tonnes. This rise comes as exports to non-EU countries have fallen.
French wheat prices were supported last week partly by Moroccos purchase of 130,000 tonnes, thin sellers, and continuing demand both domestic and from northern EU countries.
Italian grain prices were either unchanged or up over the week as a result of tight supply and higher wheat prices in France.
German wheat prices were firm last week amid slow marketing and offers into intervention. March saw 511,079 tonnes of grain offered into intervention, which is up on last years 360,661 tonnes. Barley prices also firmed on export activity from intervention stocks.
Iberian grain prices started the week higher after the reduced levy maize scheme failed to materialise at MANCOM on 30 March. Recent rains, however, in parts of Spain offset the rise, reversing fears of heavy drought related losses.
1 = 60.6p at time of writing.
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