EU Wheat Closing Comments
Paris January milling wheat futures closed down EUR0.75 at EUR133.50/tonne, and London May feed wheat ended down GBP1.00 at GBP112.00/tonne.
Egypt bought 60,000 MT of Russian wheat from Louis Dreyfus at USD196.50/tonne, 60,000 MT of French wheat from Granite at USD198.65/tonne, and 55,000 MT of German wheat from Cargill at $198.75/tonne in this weeks tender.
It might be interesting that the tender was split three ways origin-wise. Stories are circulating that whilst Russian wheat may be the cheapest, there are also contamination problems associated with it.
The UK exported 172,402 MT of wheat in September, bringing the cumulative total for the marketing year which began on July 1st to 438,169 MT, say Defra.
Allowing for usage from Ensus, that potentially leaves the UK a surplus of 'only' around 140,000 MT per month to export during Oct 09/Jun 10, which would not appear to be an unachievable target.
We also exported 107,386 MT of barley in September, taking the current MY total to 263,437 MT, said Defra. That's slightly above last year's pace of 215,315 MT, but still leaves plenty to be exported or go into intervention.
Egypt bought 60,000 MT of Russian wheat from Louis Dreyfus at USD196.50/tonne, 60,000 MT of French wheat from Granite at USD198.65/tonne, and 55,000 MT of German wheat from Cargill at $198.75/tonne in this weeks tender.
It might be interesting that the tender was split three ways origin-wise. Stories are circulating that whilst Russian wheat may be the cheapest, there are also contamination problems associated with it.
The UK exported 172,402 MT of wheat in September, bringing the cumulative total for the marketing year which began on July 1st to 438,169 MT, say Defra.
Allowing for usage from Ensus, that potentially leaves the UK a surplus of 'only' around 140,000 MT per month to export during Oct 09/Jun 10, which would not appear to be an unachievable target.
We also exported 107,386 MT of barley in September, taking the current MY total to 263,437 MT, said Defra. That's slightly above last year's pace of 215,315 MT, but still leaves plenty to be exported or go into intervention.