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in four weeks.
Extreme cold weather boosted wheat gains in Chicago, and lower revisions to EU wheat production and inventories helped support higher wheat prices in France
.
As of Thursday (Dec.
22), the delivery price of first-grade French wheat at the French port of Rouen was $331/mt, up 1 yuan
from a week ago.
The price range over the past 52 weeks has ranged from $308 to $
472 per tonne.
22), the delivery price of first-grade French wheat at the French port of Rouen was $331/mt, up 1 yuan
from a week ago.
The price range over the past 52 weeks has ranged from $308 to $
472 per tonne.
Second-grade wheat prices in Argentina's upper river on Thursday were $387/mt, down $17 from a week ago; U.
S.
No.
2 hard red winter wheat was $388/mt, up $2; U.
S.
No.
2 soft red winter wheat prices were $337/mt, unchanged
from a week ago.
S.
No.
2 hard red winter wheat was $388/mt, up $2; U.
S.
No.
2 soft red winter wheat prices were $337/mt, unchanged
from a week ago.
At Euronext Paris, the most actively traded March wheat futures closed at 311.
75 euros / mt on Friday, up 4.
8% from a week ago; Chicago wheat futures rose 3.
0%
over the same period.
75 euros / mt on Friday, up 4.
8% from a week ago; Chicago wheat futures rose 3.
0%
over the same period.
On Dec.
22, the European Commission expects 27 EU wheat production of 126.
44 million mt in 2022/23, down from 126.
99 million mt forecast last month, while exports are expected to be 34 million mt, unchanged
from a month ago.
EU wheat feed consumption increased by 500,000 tonnes to 42 million tonnes; Imports from third countries were raised by 1 million tonnes to 5 million tonnes
.
Ending stocks are expected to reach 15.
416 million mt, down from 15.
46 million mt
forecast in November.
22, the European Commission expects 27 EU wheat production of 126.
44 million mt in 2022/23, down from 126.
99 million mt forecast last month, while exports are expected to be 34 million mt, unchanged
from a month ago.
EU wheat feed consumption increased by 500,000 tonnes to 42 million tonnes; Imports from third countries were raised by 1 million tonnes to 5 million tonnes
.
Ending stocks are expected to reach 15.
416 million mt, down from 15.
46 million mt
forecast in November.
On December 15, Strategic Grains released its first 2023 production forecast, showing that EU soft wheat production in 2023 is expected to be 128.
7 million tonnes, up 2.
5% from this year's 125.
5
million tonnes.
7 million tonnes, up 2.
5% from this year's 125.
5
million tonnes.
On December 13, the French Ministry of Agriculture forecast that the acreage of soft wheat in France will increase to 4.
75 million hectares in 2023, up 1.
7% from this year and 0.
1%
higher than the five-year average.
The increase in planted acreage, combined with favourable early growing conditions, indicates a good production outlook for 2023, although weather after spring tends to have a greater
impact on final yields.
In contrast, the planted area of Durham wheat is estimated to be 4.
4% less than the previous year to 233,000 hectares, 12.
5%
below the five-year average.
75 million hectares in 2023, up 1.
7% from this year and 0.
1%
higher than the five-year average.
The increase in planted acreage, combined with favourable early growing conditions, indicates a good production outlook for 2023, although weather after spring tends to have a greater
impact on final yields.
In contrast, the planted area of Durham wheat is estimated to be 4.
4% less than the previous year to 233,000 hectares, 12.
5%
below the five-year average.
French soft wheat is in near-ideal
condition before winter.
As of December 5, 99% of French soft wheat planting was completed and 98%
emergence.
The good rate was 97 percent, down from 98 percent a week ago and 98 percent
a year ago.
The high rate of good winter crops contributes to the increase of crop yield potential
.
However, it should be noted that crops tend to be affected by more weather from spring, such as soft wheat in many areas this year damaged by high temperatures and dry weather, resulting in a reduction in the good rate to 64%
when the harvest season arrives in July.
condition before winter.
As of December 5, 99% of French soft wheat planting was completed and 98%
emergence.
The good rate was 97 percent, down from 98 percent a week ago and 98 percent
a year ago.
The high rate of good winter crops contributes to the increase of crop yield potential
.
However, it should be noted that crops tend to be affected by more weather from spring, such as soft wheat in many areas this year damaged by high temperatures and dry weather, resulting in a reduction in the good rate to 64%
when the harvest season arrives in July.
On December 13, FranceAgriMer, part of the French Ministry of Agriculture, raised France's soft wheat exports to third countries by 300,000 mt in 2022/23 to 10.
3 million mt, up 17% year-on-year and a three-year high, reflecting strong French wheat exports to China
.
In the first five months of the year (July to November), France exported more than 6 million tonnes
of wheat to third countries.
French soft wheat production in 2022/23 was 31.
128 million mt, slightly below the previous month's forecast of 31.
159 million mt and down 3.
6%
from the previous year.
3 million mt, up 17% year-on-year and a three-year high, reflecting strong French wheat exports to China
.
In the first five months of the year (July to November), France exported more than 6 million tonnes
of wheat to third countries.
French soft wheat production in 2022/23 was 31.
128 million mt, slightly below the previous month's forecast of 31.
159 million mt and down 3.
6%
from the previous year.
On December 9, the USDA raised EU wheat exports for 2022/23 to 36 million mt (35 million mt forecast last month vs.
31.
92 million mt last year).
Wheat production is estimated at 134.
30 million tonnes (unchanged from last month, which was 138.
22 million tonnes), imports were revised up to 7 million tonnes (6 million tonnes last month, 4.
61 million tonnes last year), and ending stocks were raised to 10.
41 million tonnes (9.
48 million tonnes forecast last month vs.
13.
36 million tonnes last year).
31.
92 million mt last year).
Wheat production is estimated at 134.
30 million tonnes (unchanged from last month, which was 138.
22 million tonnes), imports were revised up to 7 million tonnes (6 million tonnes last month, 4.
61 million tonnes last year), and ending stocks were raised to 10.
41 million tonnes (9.
48 million tonnes forecast last month vs.
13.
36 million tonnes last year).
FranceAgriMer, part of the French Ministry of Agriculture, said on September 22 that the average protein content of French soft wheat this year was 11.
4%, down from the average of 11.
9%
in the previous five years.
Despite the effects of the dry and hot weather in the spring and summer, the wheat quality was generally very satisfactory
, the report said.
About 59% of the crops are of excellent
quality.
4%, down from the average of 11.
9%
in the previous five years.
Despite the effects of the dry and hot weather in the spring and summer, the wheat quality was generally very satisfactory
, the report said.
About 59% of the crops are of excellent
quality.
The EU27 exported 15.
7 million mt of wheat in 2022/23 (July-June) as of Dec.
18, compared with 15.
38 million mt the previous week and 14.
88 million mt
a year earlier, European Commission data showed.
The top buyer was Morocco (2.
13 million tons, 13.
6%)
.
EU wheat imports are 3.
8 million mt so far this year, compared with 3.
54 million mt the week before and 1.
36 million mt
a year earlier.
Ukraine is the number one supplier (2.
45 million tons, 64.
4%)
.
In 2021/22, the EU27 wheat export volume was 27.
47 million mt, an increase of 6.
8% year-on-year; The import volume was 2.
46 million tons, a year-on-year increase of 21.
5%.
7 million mt of wheat in 2022/23 (July-June) as of Dec.
18, compared with 15.
38 million mt the previous week and 14.
88 million mt
a year earlier, European Commission data showed.
The top buyer was Morocco (2.
13 million tons, 13.
6%)
.
EU wheat imports are 3.
8 million mt so far this year, compared with 3.
54 million mt the week before and 1.
36 million mt
a year earlier.
Ukraine is the number one supplier (2.
45 million tons, 64.
4%)
.
In 2021/22, the EU27 wheat export volume was 27.
47 million mt, an increase of 6.
8% year-on-year; The import volume was 2.
46 million tons, a year-on-year increase of 21.
5%.
Investment funds and financial institutions held a net long 8,911 contracts in the Euronext milling wheat futures and options market as of Dec.
16, down from 11,327 a week earlier
, Euronext holdings data showed.
16, down from 11,327 a week earlier
, Euronext holdings data showed.
On Friday, the euro closed at $1.
0642 to the euro, up from $1.
0585 to the euro a week earlier
.
0642 to the euro, up from $1.
0585 to the euro a week earlier
.
Note: 1 euro is equal to 1.
0642 US dollars
0642 US dollars
