European wheat markets remained quiet with trading yet to really take off. With the wheat harvest reaching the end in northern Europe attention has switched to the Danish, Swedish, and UK harvest quality. Milling wheat prices were under pressure last week as there was uncertainty over the European Unions grain exports awards.
The French wheat market was still focused on the quality of the rain-affected crop last week. It is thought that it will take some time to classify the various qualities that have been harvested this season.
Germany has all but finished the wheat harvest for 2000 with the areas harvested late showing better quality results. Producers are still very reluctant sellers, with a lot of feed grain still on farm. Meanwhile, compound feed buyers are also reluctant participants in the market. This seasons oat harvest is 20 per cent lower than 1999/00, and with variable quality means imports may be necessary.
Denmark has reportedly harvested 80 to 85 per cent of its wheat crop with a solid amount of it reportedly milling quality. This seasons grain harvest should be around 1.6M tonnes, up 27 per cent on last years.
Finland has commenced its spring wheat and oats harvest as well as the barley harvest. So far the crop looks good, however this could all change as harvest is mainly done in September, which means the risk of poor weather is increasing.
Taken from HGCA weekly MI Bulletin|
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