- MATIF unchanged on week, but higher on month
MATIF wheat futures ended last week generally unchanged, but have risen significantly since the beginning of November.
The January 2001 contract was 3.50 up on the month. Over the same period, the Euro has also strengthened around 2US¢ against the Dollar. The net effect was a $5 increase in MATIF wheat prices.
Over the same period, Chicago wheat futures were just $1.50 higher.
- EU bans MBM in animal feed
EU Farm Ministers held a special meeting on Monday (4 December) and voted to ban meat and bonemeal (MBM) from feeding to animals. They also considered other beef market measures to help farmers through the current BSE issue.
At present the EU note that 3 million tonnes of MBM is produced in the EU, with 2.5m tonnes being used in the EU feed sector.
The press release notes that the Commission could explore “further possibilities to make EU production (of protein crops including peas and beans) more attractive”.
Taken from HGCA weekly MI Bulletin
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