Wheat markets remain quiet
European wheat markets remained quiet with
trading yet to really take off. With the wheat harvest
reaching the end in northern Europe attention has
switched to the Danish, Swedish, and UK harvest
quality. Milling wheat prices were under pressure
last week as there was uncertainty over the
European Unions grain exports awards.
The French wheat market was still focused on the
quality of the rain-affected crop last week. It is
thought that it will take some time to classify the
various qualities that have been harvested this
season.
Germany has all but finished the wheat harvest for
2000 with the areas harvested late showing better
quality results. Producers are still very reluctant
sellers, with a lot of feed grain still on farm.
Meanwhile, compound feed buyers are also reluctant
participants in the market. This seasons oat harvest
is 20 per cent lower than 1999/00, and with variable
quality means imports may be necessary.
Denmark has reportedly harvested 80 to 85 per
cent of its wheat crop with a solid amount of it
reportedly milling quality. This seasons grain harvest
should be around 1.6M tonnes, up 27 per cent on
last years.
Finland has commenced its spring wheat and oats
harvest as well as the barley harvest. So far the crop
looks good, however this could all change as harvest
is mainly done in September, which means the risk of
poor weather is increasing.
1 = 61p, 1 = 1.63407 at time of writing.
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Taken from HGCA weekly MI Bulletin
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