Menu

French wheat leads Europe-wide price rise

- 27 April 1999
>More in

Tuesday, 27 April, 1999

  • French wheat led most other markets higher across the
    EU, after Algerias mid-week purchase of 100,000t
    of soft wheat. The French price discount to intervention
    narrowed to just under 3%, compared with around 13% back in March. Reports
    of short-covering also helped support prices.

  • Interest for further volumes of French wheat from
    Algeria, Morocco and Jordan added to the markets
    positive tone. This will, however, depend on how
    competitive French wheat remains in relation to other
    origins. It is currently valued some $5 below US wheat.

  • Danish feed wheat prices were up from last week
    following firmer UK, French and German prices. Export
    trade has suffered at current price levels, given strong
    competition from cheaper UK feed wheat.

  • Italian grain markets saw only thin volumes traded
    throughout the week, with most of the interest said to
    be for new-crop July grains. With supplies scarce,
    however, most grains may see some price rises over
    coming weeks.

  • German prices were slightly firmer for bread and feed
    wheat. The market was reported as seeing supplies
    off-farm dwindling, with only high-quality wheat and malting
    barley still needing to be sold.

  • The German intervention board has indicated its
    willingness to release producers from their
    intervention contracts if the market requires more
    supplies.

  • EU barley prices gained from news of a sale to China
    of 50,000-100,000t and Saudi Arabias re-entry into
    the market. Possible interest from Cyprus and Jordan
    also helped lift prices higher by the end of the week.

    HGCA
    Taken from HGCA weekly MI Bulletin
    To contact the HGCA phone 0171-520 3972


    Click here to visit the Home-Grown Cereals Authority

    • See more