GRAINS MARKET REPORT:
W/e 10/03/17 -- EU grains closed mostly lower on the day, but
mixed for the week.
The day ended
with Mar 17 London wheat up GBP1.05/tonne at GBP146.65/tonne,
Mar 17 Paris wheat was down EUR4.25/tonne at EUR167.75/tonne,
Jun 17 Paris corn was EUR1.50/tonne lower at EUR172.50/tonne and
May 17 Paris rapeseed fell EUR2.75/tonne to EUR402.25/tonne.
For the week
that places nearby London wheat GBP1.10/tonne higher, with Paris
wheat down EUR6.25/tonne, corn EUR4.25/tonne firmer and rapeseed
A weaker sterling
this week has supported London wheat, in addition to tightness
in old crop supply.
vast majority of GB arable crops have come into the spring in
good condition, according to the latest ADAS crop report. The
relatively dry and mild conditions during the autumn and winter
allowed pesticide applications to be made as planned and there
are few weed, pest or disease issues to report at this stage in
the season," said the HGCA.
They did however
report a drop in overall winter plantings, including an English
and Welsh wheat area decline of 5% to 1.612 million ha, along
with a 2% fall in barley sowings and a 1% decrease in the area
given over to winter OSR (to 538k ha).
say that the actual sown area is even lower, especially for OSR
where Origin Enterprises this week came up with a figure of only
500,000 ha for the UK as a whole, "a reduction of approximately
10% on last year," they said.
have been deterred from sowing the oilseed by heavy losses in
many areas to cabbage stem flea beetle, following the introduction
of EU curbs on neonicotinoid insecticides," reported Agrimoney.
In other news,
Brussels reported 235 TMT of soft wheat exports this past week,
taking the season to date total to 16.5 MMT, down 13% on 19.05
MMT this time last year.
EU barley exports so far this season stand at 3.2 MMT, down 59%
from a year ago, whilst cumulative EU corn imports of 7.4 MMT
are down 24%.
On the international
stage, we can report a 720,000 MT hard wheat tender from Saudi