Tuesday, 05 October, 1999
Algeria is reported to be seeking 100,000 tonnes of soft wheat which could include German and/or the US, Canadian and Argentinean product.
French wheat continued to see price pressure from limited export prospects, which was heightened by its exclusion from the Algerian purchase. Algeria was said to be dissatisfied with the quality of the wheat it bought from France last season.
French barley prices remained unchanged as the supportive export award of 162,000 tonnes, granted to barley last week, was offset by strong price competition from the UK. French maize prices steadied after experiencing a brief interruption to the harvest from heavy showers.
German wheat markets are looking towards Southern Europe, Belgium the Netherlands and the UK for milling wheat buying interest, with prices remaining unmoved in the meantime. Feed barley continued to receive price support from healthy levels of domestic and export demand.
Spanish barley prices have reportedly firmed in recent weeks fuelled by local harvest pressures and strong demand from North Africa and the Middle East.
Maize harvesting is under way in central Portugal, helped by recent rains and farmers are making preparations for winter sowings in south-eastern regions. The fall in 1999 production is expected to be fairly modest, compared to last years level, reflecting improved weather conditions. The state-run National Statistics Institute has similarly forecast sharp increases in the production of other grains.
Taken from HGCA weekly MI Bulletin
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