HGCA: Another refund signals strong export policy
Tuesday, 30 January, 2001
THE EU awarded another large quantity – 348,500 tonnes – of open-market wheat at a maximum refund of
This was unchanged from last week despite the stronger Dollar and higher world wheat prices suggesting a lower refund.
The award values French wheat at $112, making French wheat competitive with US soft red winter.
The EU also removed negative correctives for February last Wednesday (24 January), while leaving them in place for March to May.
FRENCH wheat prices rose following MANCOMs award and a sale of 55,000t of wheat to Egypt last week.
THE EU agreed to open a tender to sell 113,318t of Belgian intervention wheat on to the EU market, last Thursday (25 January).
MATIF wheat prices however largely ignored the sale, ending the week between
AROUND 30% of Portugals intended 2001 wheat and barley plantings have not been done because of wet weather.
Problems are also reported in Spain, where recent wet weather is creating concerns over spring planted area.
7.50 last Thursday (25 January). 0.25-1.25 firmer from Mondays values.
1 = 63.04p or 91.93US¢ on 29 January
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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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