Tuesday, 18 April, 2000
Prices last week were mainly influenced by the very small MANCOM award of Thursday 6 April, where only 5000 tonnes of wheat was made available for exports. This resulted in European grain prices being generally unchanged or up marginally on the previous week.
European milling wheat prices were predominantly up, with Italy seeing prices rise by 2/t on last week.
European feed barley prices were firm last week as there was continued export demand, with Morocco purchasing 120,000t.
European maize prices were generally lower, with Spain seeing a fall in price of 4.50, while München in Germany was the only area to see a price rise.
French wheat prices saw a small increase last week as a result of limited supply, and recent purchases of wheat by North Africa.
Spain and Portugal have both received much needed rain for this seasons harvest, which combined with the anticipated cut levy maize import scheme being opened soon, resulted in consumers being more relaxed. The EU has confirmed that it will open 800,000t of Spains quota for 2000, while awarding Portugal with the balance of its 1999/00 quota.
Italian wheat prices were firm last week as a tight supply situation pushed prices up. Maize prices are still suffering from the bird flu epidemic, although prices may recover, as there is a gap opening between feed wheat and maize prices which may stimulate demand for maize.
1 = 60.3p at time of writing.
Taken from HGCA weekly MI Bulletin
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