HGCA: Euro loses against Dollar

  • Euro-zone interest rates on hold

    Thursday saw the ECB keep interest rates on hold, at 4.75%. Despite ongoing uncertainty in the USA over the next President, the Euro lost around 1US¢ against the Dollar, ending the week worth 85US¢.

  • MATIF wheat futures stronger

    Helped by strong domestic demand and higher physical prices, MATIF wheat futures rose as much as Euro2/t last week. Traders noted that the ban on meat and bonemeal in French animal feeds was supporting grain values.

  • MANCOM awards slow as French prices up

    The stronger French wheat market, together with the Euro recovering from dollar-lows, has left exporters placing fewer bids at zero refunds.

    Last week saw 54,000 tonnes granted. Around 20,000t of barley was sold from intervention at a minimum Euro127/t, well above the intervention price. This higher price reflects a recent improvement in world demand for feed barley.

    Only 0.3m tonnes of barley remain in EU intervention stores. This time last year the EU held nearly 5m tonnes of barley stocks in intervention. Cereal import duties were also changed.

  • Euro1 = 59.55p 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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