Rain disrupts EU progress

WET WEATHER has delayed the EU harvest, supporting UK old crop exports, but it is still too early to call quality effects.

Early cuts in the south show yields well up on last year, suggesting less need for imports.

Italy‘s wheat harvest is 80% complete with soft wheat output up 16% and durum wheat up 25%.

About 15% of Spanish wheat has been cut.

Barley harvest has started in northern Europe and is almost complete in the south, with around 70% cut in Spain and traders reporting one of the best crops for years.

Wet conditions have disrupted the French wheat harvest, raising quality concerns. But most crops are not yet at risk.

Possible wheat delays are said to have boosted UK old crop exports, potentially cutting UK pre-harvest stocks, which could be particularly important considering the larger crop expected.

In Ukraine and southern Russia harvest has started mainly in barley, though some wheat has also been cut, with rain damage reported in both.

Feed exports are expected to predominate with feed wheat quoted as low as Euro120/t delivered EU ports, about Euro10 below equivalent UK values. 

However, Former Soviet Union milling wheat offers into the EU are at a similar price to EU wheat.

That suggests less competition at the quality end of the market, highlighting the need for a reasonable quality UK harvest.

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