Old-crop Euro wheat futures strong: HGCA
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MATIF old-crop wheat futures were
0.25-0.75/t higher on the week, taking March to 118.50/t. New-crop MATIF futures were unchanged to
0.50 lower. The March intervention price is 115.25/t.Prices of most Continental grains are above intervention.
- Export licence policy unchanged
AROUND 290,000 tonnes of free-market export licences were awarded last week, at a maximum refund of
9/t. This prices French wheat competitively against US-origin.Barley licences continue to be issued at zero value.
- Intervention stock down
TOTAL EU stocks, including offers, are now 1.4m tonnes of wheat, 1.6m tonnes of barley and 3.7m tonnes of rye.
- 1 = 63.23p or 92.79US¢ on 06 March
Taken from HGCA weekly MI Bulletin
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