Tuesday, 19 September, 2000
1 = 64.04p at time of writing.
- The European wheat market was mainly concentrating on the feed side last week, with prices supported by demand from Holland and Belgium.
- European milling wheat trade continued to be quiet last week following the lack of export opportunities. The barley market was also rather stagnant last week, although news that Jordan and Saudi Arabia may be venturing back into the market means there could be some activity soon.
- Strategie Grains, the French analyst, have predicted that the EU 2000/01 cereal crop will be 210.5 million tonnes, an increase of 6% on last year. Of this, soft wheat is expected to be 95.4m tonnes, and barley at 50.7m tonnes of which 13.4m tonnes is likely to be malting barley.
- The 2000/01 French wheat crop quality is said to be better than first feared. A report released by ONIC last week showed that the average wheat protein and moisture content were good, but it is thought that only 31% of the crop will have a Hagberg number over 220, and 65% above 150.
- Denmark is expecting to harvest 9.6m tonnes of grain this season, up 9% on 1999/00. Harvest is almost complete with 97% done, with areas in the north and west still left following rain interruptions.
- Germany is set to produce 21.3m tonnes of wheat in 2000/01 up from the 19.6m tonnes in 1999/00, although the amount of milling wheat is likely to be less, following the poor weather.
Taken from HGCA weekly MI Bulletin
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