Morrocan deal boosts MATIF: HGCA

MATIF March and May wheat futures gained 1 from last week helped by the EUs export award of 375,000 tonnes at a maximum refund of 8/t.

This was, however, significantly below the 1.25m tonnes bid for which followed the Commissions adjustment of forward negative correctives to zero.

Moroccos 80,000 tonne wheat purchase, although specifying optional origin, was largely expected to favour French and possibly UK wheat.

Although this has yet to be confirmed, it offered some support to nearby prices.

Other news saw MANCOM adjust standing refunds for wheat flour.

EU malting barley prices were largely unchanged to lower on the week, despite expectations of growing demand from Eastern and Southern Europe.