- Interestingly we have today seen Paris milling wheat futures values regain the upper hand with all positions (excepting May ’14 by £0.07) displaying a premium to their London feed wheat counterpart (basis exchange rates at 18:00 UK time) for the first time in many months. Whether this will be a lasting situation remains to be seen!
- Brussels granted wheat export licences totalling 706,609mt this week, which brings the season total to 2.811 million mt, 1.3 million mt ahead of last season (87.2%).
- In Russia their AgMin has downgraded the 2013 grain harvest to 90 million mt from 90 to 94 million mt last as a consequence of unfavourable weather conditions. Ukraine’s AgMin has estimated August grain exports at 2 million mt, an increase from their last 1.5 to 1.7 million mt. Germany’s association of farming cooperatives, DRV (Deutscher Raiffeisenverband eV) increased its overall estimated grain harvest to 47 million mt, winter wheat making up 24 million mt, winter barley 8.3 million mt, corn 4.5 million mt and rapeseed 5.9 million mt.