Harvest starts in southern EU – HGCA
Tuesday, 20 June, 2000
European wheat prices were largely unchanged last week as most traders have now been quoting new-crop prices for the last two weeks, hence a stabilisation in the change on last weeks values.
European malting barley markets are reported to be optimistic following the recent warm weather, which has meant that the crop outlook is looking much better. However, there is still a lack of trade.
Feed barley markets saw some price support last week as Iran purchased 100,000t of optional-origin feed barley. It is thought that the EU will be a likely source.
Spain began harvesting in central regions last week, which resulted in prices coming under pressure. It is thought that half of Spains supply for 2000/01 will be harvested within a month.
French winter barley output is reported to be up this season to 7.1 million tonnes. French markets received some support last week, as Algeria purchased a total of 100,000 tonnes of wheat for delivery in August, with 50,000 tonnes of it coming from France.
Italy has begun harvesting its soft wheats in central and southern regions following the recent dry weather, which has meant a slightly earlier start compared to normal. Trade is slow with very few prices being quoted as harvest has now commenced.
Germany has been suffering from dry weather, which has meant the need for irrigation. Millers and compound feeders are reported to have sufficient cover, with new demand only expected in the dry regions.
Swedens new crop is reported to be looking good, with harvest probably reaching 5.8m tonnes compared to 5.1m tonnes last season.
1 = 63.7p at time of writing.
Demand for animal feed is expected to be low as the recent rains have meant that pastureland is ideally suited for grazing.
1 = 63.7p at time of writing.
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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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