Taken from HGCA weekly MI Bulletin|
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Traders expect malting barley boost HGCA
Tuesday, 16 November, 1999
Gersons, the malting barley trader, has reported that trade has been reduced to small-scale business with prices unchanged. However, demand is expected to pick up with large malt business reportedly occurring with South America and the Philippines.
The EU awarded 102,500 tonnes of wheat on 4 November for open-market exports at 33.47/t.
ONIC, the French Cereals Authority, predicted a 17% carry out of French maize for the1999/00 season from the 1998/99 level.
French farmers have offered 420,100 tonnes of wheat and 88,100 tonnes of barley into intervention this week. This is lower than the 1,228,600 tonnes which was offered this time last year.
Germany has seen more ex-farm selling, with stored grain being marketed. Seed sales are rising which indicates a sharp increase in similar grain area, and therefore a possible reason for the decline of malting barley area in 2000. German wheat prices have held firm due to support from higher French prices.
Germany has offered 62,851 tonnes of wheat, 997,107 tonnes of barley, and 2371 tonnes of maize into intervention.
Italys 1999 maize harvest, which has previously been forecast well over 9 million tonnes, could be even higher at 10.2m tonnes. This would be a 13% increase on last years 9.1m tonnes, and is mainly due to a 0.6t/ha rise in average yields.
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