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Chicago grain prices could boost Europe, says HGCA

- 10 October 2000
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Tuesday, 10 October, 2000

  • European grain prices were largely unchanged last week as trading is still subdued. However, price rises on the CBOT last week, could lead to interest in the European market coming from the Middle East.
  • The EU malting barley market was quiet last week with a steady amount of trade being done, although export trade remained rather unsubstantial.

    Prices were firm with French Prisma trading at around Euro150, a slight rise on the previous week.

  • Feed wheat prices in France increased slightly early last week before falling on Friday, as the recent demand from Northern Europe tailed off.

    This comes despite the purchase of 224,000 tonnes of soft wheat by Tunisia, part of which will be from France.

  • German producers are offering very limited quantities of grain, while demand is rather modest.

    Price changes were marginal over the week, with business steady, despite price pressure from the highly competitive Austrian and world wheat market.

    It has been reported that producers believe that the quality wheat in Germany is currently too cheap. The Government has raised its 2000/01 grain estimate to 45.2m tonnes, with soft wheat placed at 21.6m tonnes, and barley at 12.1m tonnes.

  • ONIC, the French grain office, has raised its estimate for French wheat carryout for 2000/01 to 6.9m tonnes, while barley is thought to be 0.9m tonnes, and maize 2.7m tonnes.

  • Euro1 = 60.06p at time of writing

    HGCA
    Taken from HGCA weekly MI Bulletin
    To contact the HGCA phone 020 7520 3972


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