The slowdown in exports from EU pressure on prices
the European Commission has lowered the forecast of wheat exports from the EU to 2018/19 MG 8% from 20 to 18 million tonnes, while the import forecast of corn has increased by 1.5 million tonnes to 20 million tonnes, which almost corresponds to the projected USDA 21 million tons.
this season, the EU imported already 13.5 million tons of corn, and yet does not reduce the rate of imports.
Reduce its wheat production to 128 million tons of increased demand within the EU and has led to a rise in wheat prices. However, the decline in maize prices, especially Ukrainian, has helped to promote the import of feed grains and to release quantities of wheat for export outside of the EU.
After a rise in price of Russian wheat significantly increased the competitiveness of European grain that showed the latest tender in Egypt, where for the first time in 1.5 years was purchased French wheat.
- After the decline of the forecast of wheat exports from the EU of the March futures on milling wheat in Paris at the MATIF fell by 1.5 €/t to 10-day low 204,25 €/t or 233,67 $/t
More quotes on crushes a sharp strengthening of the Euro against the dollar to 3-week high.