Taken from HGCA weekly MI Bulletin|
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Support for EU wheat, barley buying HGCA
Tuesday, 23 November, 1999
EU wheat saw some price support this week on the back of consistent international demand. Iran purchased 60,000 tonnes of wheat for December to January. Demand was also reported from Algeria, and Tunisia.
Gersons, the malting barley trader, reported extensive buying of French winter barley delivered seaport, with some demand for lower grades of spring barley too.
EU malting barley could become the target of Chinese demand if the Australian crop suffers from continual poor weather. Estimates suggest China will only be able to source half of its needs, especially given current shortages in North America.
Germany has seen increased on-farm sales, despite processor demand remaining quiet. Current on-farm stocks of malting barley are higher than last year given limited demand from maltsters.
German offers into intervention as at 17 November are 62,081t of wheat, 1.1 million tonnes of barley, and 2371t of maize.
Danish winter wheat area for harvesting next summer is 3% lower than last year, while the 1999 grain harvest has been estimated at 9.28m tonnes, a reduction of 7% on last year, according to the Agricultural Advisory Committee.
Strategie Grains has increased the estimate of its maize harvest to 15.2m tonnes, which is an increase of 593,000t from the last estimate.
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