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European wheat market: further increases in wheat prices in French ports

 Last Update: 2021-08-04
 Source: Internet
 Author: User

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Foreign media news on August 1: French wheat spot prices continued to rise in the past week , mainly due to unfavorable weather in major wheat producing countries in Europe, making French wheat production lower than previously expected
.
However, many analysis agencies have raised the EU wheat output forecasts, believing that the recent rainy weather will affect crop quality more than yield
.

On Thursday (July 29), the delivery price of first-class French wheat at the port of Rouen in France was US$268/ton, an increase of US$16/ton from a week ago
.
The price range for the past 52 weeks has ranged from US$216 to US$304 per ton
.

The price of second-class wheat in Shanghe, Argentina was US$277/ton, the same as a week ago; the price of No.
2 hard red winter wheat in the United States was US$310/ton, an increase of US$5 from a week ago; the price of US No.
2 soft red winter wheat was US$285/ton , Up 7 dollars from a week ago
.

On the Euronext exchange in Paris, France, the most active December wheat futures on Friday closed at 225.
5 euros/ton, up 11.
25 euros or 5.
25% from a week ago, while Chicago wheat futures rose 2.
89% over the same period
.

　　The current wheat harvest in France is speeding up because the weather has cleared up after the recent rains
.
From July 1 to 20, the rainfall in most areas of France was twice the normal
.
As of July 26, the French wheat harvest was 47% complete, still lagging behind 87% in the same period last year
.

　　The European Commission issued a report on July 30, raising the wheat output of the 27 EU countries in 2021/22 to 127.
7 million tons, higher than the 125.
8 million tons predicted in June, and the output for 2020/21 is 117.
2 million tons
.
The EU wheat export forecast for 2021/22 remains unchanged at 30 million tons, but it is higher than the 27 million tons for 2020/21
.

　　On July 29, the International Grain Council issued a report, raising the EU wheat production forecast to 137.
7 million tons, which is higher than the 136.
0 million tons in the previous month
.
Despite heavy rains in some major producing countries, crop prospects in France, Hungary and Romania have improved
.
A few days ago, the EU crop monitoring agency MARS also increased the average EU soft wheat yield from 6.
01 tons/ha in June to 6.
05 tons/ha
.
MARS said that although France, Germany, Romania and Ukraine have unusually high rainfall, they are likely to damage crop quality more than yields
.

　　On July 22, the Strategic Grain Company lowered France’s 2021 soft wheat production forecast to 37 to 37.
5 million tons, which was lower than the nearly 38 million tons predicted a week ago, because wheat production in the main producing areas of northern and northeastern France was lower than It is expected that it may be related to the cold weather at the beginning of the year
.
The overall quality of wheat is also disappointing
.
The drop value and bulk density may drop significantly
.
These two standards determine whether wheat can be used to make flour or as feed
.
But the protein content is not that worrying
.
The French Ministry of Agriculture recently predicted that the soft wheat production in France this year will be 37.
1 million tons, a year-on-year increase of 27%
.

　　At the Port of Rouen, France's number one wheat export port, data from the port operator Haropa showed that in the week ending July 28, the port of Rouen had 108,578 tons of grain exports, up from 65,529 tons in the previous week
.

　　According to data from the European Commission, as of July 25, wheat exports from the 27 EU countries reached 625,000 tons (37.
1 tons a week ago) in the 2021/22 fiscal year (July to June of the following year), and imports were 93,000 tons (one week) The first 80,000 tons)
.
South Korea is the number one destination for EU wheat exports, with imports of 79,000 tons (46,000 tons last week), accounting for 12.
7%, Israel imported 76,000 tons, accounting for 12.
2%; Sri Lanka 71,000 tons, accounting for 11.
3%; Britain 6.
8 10,000 tons, share 10.
8%); Jordan 58,000 tons (9.
3%)
.

　　Euronext's position data shows that as of July 23, investment funds and financial institutions held 126,251 net long positions in the Euronext milling wheat futures and options market, up from 115,392 a week ago
.

　　On Friday, the euro exchange rate was 1 euro to 1.
19 U.
S.
dollars, and 1 euro to 1.
18 U.
S.
dollars a week ago
.

　　Note: 1 Euro is equal to 1.
19 U.
S.
dollars

French wheat prices EU

　　On Friday, the euro exchange rate was 1 euro to 1.
19 U.
S.
dollars, and 1 euro to 1.
18 U.
S.
dollars a week ago
.

　　Note: 1 Euro is equal to 1.
19 U.
S.
dollars

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