European wheat prices steady HGCA

Tuesday, 09 May, 2000

  • European wheat prices were generally unchanged, with the MANCOM award on Thursday (27 June) largely setting the tone for the week.
  • European malting barley prices were largely unchanged, with the market thought to be well covered, resulting in no old-crop trade.

    Interest from third countries continues to support prices with Ethiopia and Turkey, both said to be active in the market.

  • French wheat prices were firm last week as the strength of US CBOT wheat futures and the Dollar continues to make European wheat competitive.
  • German wheat price rises were held back by slow demand.

    It is reported that some good-quality wheat and barley is being sold directly to processors, with the remaining on-farm supplies now on the market.

    German stores are reportedly tidying up their stocks ahead of the end of May, when European intervention closes.

  • Italian maize prices received support last week. Feed compounders have reportedly turned to domestic supplies due to the continual weakness of the Euro, which is making imports too expensive.
  • Spain was granted a licence to import 329,300 tonnes of third-country reduced-levy maize at the MANCOM award on Thursday.

    This is likely to lower maize prices in Spain over the coming weeks.

  • The EU grains committee also awarded Portugal with a licence to import around 187,000 tonnes of third country reduced-levy maize.

    Portugal is importing Argentinean maize instead of French maize according to dealers.

  • Danish markets remained quiet over the week.

    Feed wheat suffered from a lack of demand. Only malting barley saw some interest from Eastern Europe, which helped to support prices.

  • Euro1 = 58.5p 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

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