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    Home > Food News > Food Articles > European wheat market: French wheat prices rise strongly

    European wheat market: French wheat prices rise strongly

    • Last Update: 2022-05-14
    • Source: Internet
    • Author: User
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    Foreign media news on April 17: French wheat spot prices rose in the 14th week of 2022
    .
     
    On Thursday (April 13), the delivery price of first-class French wheat at the French port of Rouen was $444/ton, up $33 from a week earlier
    .
    The price range over the past 52 weeks is $240 to $460 per ton
    .
     
    On Thursday, the price of second-class wheat in Shanghe, Argentina was 413 yuan / ton, up 17 US dollars from a week ago; the US No.
    2 hard red winter wheat price was 514 US dollars / ton, an increase of 38 US dollars from a week ago; the US No.
    2 soft red winter wheat price was 453 US dollars / ton, up 27 US dollars from a week ago
    .
     
    On Euronext in Paris, the most actively traded September wheat futures settled at 366.
    75 euros/ton on Friday, up 16 euros or 4.
    56% from a week ago, while Chicago wheat futures rose 4.
    37% over the same period
    .
    This is mainly because the situation in the Black Sea is still tense, raising concerns that the supply of the Black Sea will be interrupted longer than earlier expected; the dry weather in the US winter wheat producing areas also constitutes a major support for wheat prices
    .
     
      On Wednesday (April 13), Egypt's state-owned buyer, the General Directorate of General Commodities Supply (GASC), purchased 350,000 tonnes of European wheat through a tender
    .
    Mostly it is said to be French wheat
    .
     
      In its April 14 report, Strategic Grains lowered its forecast for EU wheat exports in 2021/22 (starting in July) by 1.
    1 million tonnes to 31.
    4 million tonnes from its March forecast of 32.
    5 million tonnes
    .
    Previously, Western analysts generally expected that Black Sea grain exports were disrupted by the conflict, which would lead to a shift in wheat demand to the European Union and other places
    .
    But while Ukrainian wheat exports fell sharply due to the closure of Black Sea ports, Russian wheat exports have picked up pace after an initial decline
    .
    The supply-demand adjustments made by Strategic Grains this month also echo those of the USDA
    .
    In Friday's supply and demand report, the USDA raised its forecast for Russian wheat exports by 1 million tons and lowered its forecast for EU wheat exports by 3.
    5 million tons
    .
     
      However, Strategic Grains raised its forecast for EU wheat exports in 2022/23 to 30.
    3 million tonnes, up 500,000 tonnes from March, citing protracted conflict in Russia and Ukraine and unfavourable weather in the US winter wheat-producing regions
    .
    The agency also lowered its forecast for EU soft wheat production in 2022/23 to 126.
    7 million tonnes, 200,000 tonnes below last month's forecast and more than 3 million tonnes below this year's output
    .
    The EU wheat supply will remain in balance for the next season as demand for wheat feed is lowered by 1.
    5 million tons due to the bird flu crisis
    .
     
      This week, FranceAgriMer lowered its forecast for French soft wheat exports outside the European Union to 9.
    5 million tonnes in 2021/22, down from a forecast of 9.
    7 million tonnes in March, due to the lack of competitiveness of French wheat
    .
    Expectations of additional growth in French wheat demand are fading as Russian wheat exports continue despite Western sanctions, traders said
    .
    But FranceAgriMer raised French wheat exports to EU member states to 8.
    1 million tonnes from 7.
    8 million in March on strong demand from the Iberian Peninsula and Benelux
    .
     
      The European Commission's first 2022/23 supply and demand report on April 6 showed that EU wheat exports could increase to 40 million tonnes in 2022/23, up from 33 million tonnes in 2021/22, as Ukrainian wheat exports stemmed from the Russian-Ukrainian conflict Supply dwindles
    .
    The European Commission also expects an increase in cereal production next season
    .
    The EU recently allowed farmers to use fallow land to grow crops, helping to boost yields
    .
    The 2022/23 EU winter wheat plantings are estimated to increase by 1% year-on-year
    .
    EU soft wheat production in 2022/23 is forecast at 131.
    3 million tonnes, up from 130 million tonnes in the previous year
    .
     
      On Friday (April 8), the U.
    S.
    Department of Agriculture lowered its forecast for EU wheat exports in 2021/22 to 34 million tons, down from a forecast of 37.
    5 million tons in March
    .
    The EU wheat production forecast was lowered to 138.
    42 million tons, down from a forecast of 139 million tons last month
    .
    Imports were also revised down to 4.
    5 million tonnes, down from last month's forecast of 4.
    8 million tonnes
    .
    Ending stocks were raised to 11.
    36 million tons, up from the 9.
    58 million tons expected last month
    .
    The U.
    S.
    Department of Agriculture continued to lower its Ukrainian wheat export forecast this month, but raised its forecast for Russian wheat exports due to a recent pickup in Russian wheat exports
    .
     
      EU-27 wheat exports reached 20.
    63 million tonnes in 2021/22 (July to June) as of April 10 (20.
    08 million tonnes last week, compared to 21.
    42 million tonnes in the same period last year), according to European Commission data.
    The volume was 1.
    99 million tons (1.
    93 million tons last week, 1.
    69 million tons in the same period last year)
    .
    The number one buyer is Algeria, but the import volume is still lower than the same period last year, with 3.
    1 million tons of wheat imported so far (2.
    96 million tons last week, 4.
    74 million tons in the same period last year); its share is 15.
    0% (14.
    8% last week, 22.
    1% last year) %)
    .
    The second largest buyer was Egypt, which imported 2.
    17 million tons (2.
    08 million tons last week and 508,000 tons last year); its share was 10.
    5% (10.
    4% last week and 2.
    4% last year)
    .
    The third largest buyer was China, which imported 2.
    04 million tons (2.
    04 million tons last week, compared with 1.
    77 million tons in the same period last year), with a share of 9.
    9% (10.
    2% last week and 8.
    2% in the same period last year)
    .
     
      Investment funds and financial institutions were net long 184,165 contracts in Euronext milling wheat futures and options markets as of April 8, up from 176,175 contracts a week earlier, Euronext holdings data showed
    .
     
      The euro was at $1.
    08 on Friday, compared with $1.
    09 a week ago
    .
     
      Note: 1 Euro is equal to 1.
    08 USD
    French wheat prices
     
      On Thursday (April 13), the delivery price of first-class French wheat at the French port of Rouen was $444/ton, up $33 from a week earlier
    .
    The price range over the past 52 weeks is $240 to $460 per ton
    .
     
      On Thursday, the price of second-class wheat in Shanghe, Argentina was 413 yuan / ton, up 17 US dollars from a week ago; the US No.
    2 hard red winter wheat price was 514 US dollars / ton, an increase of 38 US dollars from a week ago; the US No.
    2 soft red winter wheat price was 453 US dollars / ton, up 27 US dollars from a week ago
    .
     
      On Euronext in Paris, the most actively traded September wheat futures settled at 366.
    75 euros/ton on Friday, up 16 euros or 4.
    56% from a week ago, while Chicago wheat futures rose 4.
    37% over the same period
    .
    This is mainly because the situation in the Black Sea is still tense, raising concerns that the supply of the Black Sea will be interrupted longer than earlier expected; the dry weather in the US winter wheat producing areas also constitutes a major support for wheat prices
    .
     
      On Wednesday (April 13), Egypt's state-owned buyer, the General Directorate of General Commodities Supply (GASC), purchased 350,000 tonnes of European wheat through a tender
    .
    Mostly it is said to be French wheat
    .
     
      In its April 14 report, Strategic Grains lowered its forecast for EU wheat exports in 2021/22 (starting in July) by 1.
    1 million tonnes to 31.
    4 million tonnes from its March forecast of 32.
    5 million tonnes
    .
    Previously, Western analysts generally expected that Black Sea grain exports were disrupted by the conflict, which would lead to a shift in wheat demand to the European Union and other places
    .
    But while Ukrainian wheat exports fell sharply due to the closure of Black Sea ports, Russian wheat exports have picked up pace after an initial decline
    .
    The supply-demand adjustments made by Strategic Grains this month also echo those of the USDA
    .
    In Friday's supply and demand report, the USDA raised its forecast for Russian wheat exports by 1 million tons and lowered its forecast for EU wheat exports by 3.
    5 million tons
    .
     
      However, Strategic Grains raised its forecast for EU wheat exports in 2022/23 to 30.
    3 million tonnes, up 500,000 tonnes from March, citing protracted conflict in Russia and Ukraine and unfavourable weather in the US winter wheat-producing regions
    .
    The agency also lowered its forecast for EU soft wheat production in 2022/23 to 126.
    7 million tonnes, 200,000 tonnes below last month's forecast and more than 3 million tonnes below this year's output
    .
    The EU wheat supply will remain in balance for the next season as demand for wheat feed is lowered by 1.
    5 million tons due to the bird flu crisis
    .
     
      This week, FranceAgriMer lowered its forecast for French soft wheat exports outside the European Union to 9.
    5 million tonnes in 2021/22, down from a forecast of 9.
    7 million tonnes in March, due to the lack of competitiveness of French wheat
    .
    Expectations of additional growth in French wheat demand are fading as Russian wheat exports continue despite Western sanctions, traders said
    .
    But FranceAgriMer raised French wheat exports to EU member states to 8.
    1 million tonnes from 7.
    8 million in March on strong demand from the Iberian Peninsula and Benelux
    .
     
      The European Commission's first 2022/23 supply and demand report on April 6 showed that EU wheat exports could increase to 40 million tonnes in 2022/23, up from 33 million tonnes in 2021/22, as Ukrainian wheat exports stemmed from the Russian-Ukrainian conflict Supply dwindles
    .
    The European Commission also expects an increase in cereal production next season
    .
    The EU recently allowed farmers to use fallow land to grow crops, helping to boost yields
    .
    The 2022/23 EU winter wheat plantings are estimated to increase by 1% year-on-year
    .
    EU soft wheat production in 2022/23 is forecast at 131.
    3 million tonnes, up from 130 million tonnes in the previous year
    .
     
      On Friday (April 8), the U.
    S.
    Department of Agriculture lowered its forecast for EU wheat exports in 2021/22 to 34 million tons, down from a forecast of 37.
    5 million tons in March
    .
    The EU wheat production forecast was lowered to 138.
    42 million tons, down from a forecast of 139 million tons last month
    .
    Imports were also revised down to 4.
    5 million tonnes, down from last month's forecast of 4.
    8 million tonnes
    .
    Ending stocks were raised to 11.
    36 million tons, up from the 9.
    58 million tons expected last month
    .
    The U.
    S.
    Department of Agriculture continued to lower its Ukrainian wheat export forecast this month, but raised its forecast for Russian wheat exports due to a recent pickup in Russian wheat exports
    .
     
      EU-27 wheat exports reached 20.
    63 million tonnes in 2021/22 (July to June) as of April 10 (20.
    08 million tonnes last week, compared to 21.
    42 million tonnes in the same period last year), according to European Commission data.
    The volume was 1.
    99 million tons (1.
    93 million tons last week, 1.
    69 million tons in the same period last year)
    .
    The number one buyer is Algeria, but the import volume is still lower than the same period last year, with 3.
    1 million tons of wheat imported so far (2.
    96 million tons last week, 4.
    74 million tons in the same period last year); its share is 15.
    0% (14.
    8% last week, 22.
    1% last year) %)
    .
    The second largest buyer was Egypt, which imported 2.
    17 million tons (2.
    08 million tons last week and 508,000 tons last year); its share was 10.
    5% (10.
    4% last week and 2.
    4% last year)
    .
    The third largest buyer was China, which imported 2.
    04 million tons (2.
    04 million tons last week, compared with 1.
    77 million tons in the same period last year), with a share of 9.
    9% (10.
    2% last week and 8.
    2% in the same period last year)
    .
     
      Investment funds and financial institutions were net long 184,165 contracts in Euronext milling wheat futures and options markets as of April 8, up from 176,175 contracts a week earlier, Euronext holdings data showed
    .
     
      The euro was at $1.
    08 on Friday, compared with $1.
    09 a week ago
    .
     
      Note: 1 Euro is equal to 1.
    08 USD
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