European Grain Prices take a firm hold

EUROPEAN grain prices were generally firmer last week. Milling wheat trade remained thin as the market awaited more quality results. Feed wheat prices with the exception of the Netherlands, were marginally up.

European maize prices for both old and new crop rose last week with old crop prices in France rising as much as 15 Euro/t on the previous week on tight supply.

French malting barley prices increased last week as quality concerns remained the key price determinant. Prices improved by 8 Euro/t in Creil for the Nevada variety.

The French barley market saw price support as Tunisia purchased 76,000 tonnes, and Iraq tendered to buy 50,000 tonnes.

The German harvest picked up last week following improved weather conditions, however the vast majority of the crop needs to be dried. Yields are
looking better, although weather risks remain a concern. The bulk of the harvest still remains to be done.

Denmark has only harvested 5% of its wheat crop so far. Initial results suggest that the specific weight and protein are up compared to last year. Danish prices however were largely flat over the week.

Spains expected record wheat crop is reportedly mixed in quality following the high temperatures before harvest. Milling wheat prices rose by 6 Euro/t on the previous week, underlined by more serious quality concerns in France and the UK.

1 = 61p, 1 = 1.65088 at time of writing.

Taken from HGCA weekly MI Bulletin To contact the HGCA phone 020 7520 3972 Click here to visit the Home-Grown Cereals Authority