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European Grain Prices

- 13 June 2000
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Tuesday, 13 June, 2000

  • European prices are currently very difficult to report as trade becomes more limited. There is little activity in new crop trade as buyers and sellers remain reluctant to show interest until after the harvest has started.
  • French wheat prices fell last week following the recent weakness of the US Dollar making French wheat uncompetitive on the international market. However, the recent rains have caused concern over the new crop prospects, although this has not been reflected in either old or new crop prices.
  • ONIC, the French Cereals Authority has reported that it expects 1.54M of the 1.87M tonnes of grain offered into intervention by France to be accepted.
  • Spanish wheat and barley prices have continued to be pressured by the prospects of a good harvest this year. It is looking likely that the first batch of a very large barley new crop will enter the domestic market in July.
  • German feed barley prices fell by 2 to 3 Euro last week, as it comes under pressure from the impending new crop. However, the German new crop prospects have been affected by the recent dry weather. The area planted for winter wheat is up 16.6% and 21.8% for triticale, whilst spring barley is down 22.6% compared to last year.
  • Italy started to harvest barley in the north last week and is expected to finish next week. However, the crop is reported to be of poor quality and small in quantity, which means more imports to fulfil the animal feed requirements. It is thought that Italian wheat prices will be determined by domestic maize prices over the coming weeks due to the low price of maize making it an alternative to feed wheat. This means that French maize prices will no longer influence Italian wheat prices as they did last season.
  • Euro1 = 62.3p at time of writing.

    HGCA

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

    Click here to visit the Home-Grown Cereals Authority

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