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

    European wheat market: French wheat prices rise

    • Last Update: 2022-09-20
    • Source: Internet
    • Author: User
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    French wheat prices cereal exports
     
    As of Thursday (September 8), the delivery price of first-class French wheat at the port of Rouen, France, was $334/mt, up $1 from a week ago
    .
    The price range over the past 52 weeks has been $292 to $
    472 per ton.
     
    The price of second-class wheat on Argentina's Upper River on Thursday was $400/mt, unchanged from a week ago; The price of Hard Red Winter Wheat No.
    2 in the United States is $392/ton, up $10 from a week ago; U.
    S.
    No.
    2 soft red winter wheat is priced at $351/ton, up $
    15 from a week ago.
    On Euronext Paris, the most actively traded December wheat futures on Friday closed at €337.
    75/mt, up 5.
    55% from a week ago; Chicago wheat futures rose 7.
    21 percent
    over the same period.
     
    Russian President Vladimir Putin said at a meeting on Wednesday (Sept.
    7) that the U.
    N.
    -brokered agreement on Grain Exports to Ukraine was a deception
    to Russia as well as developing countries.
    He said Russia would consider amending the terms of the agreement to restrict grain exports to the EU
    .
    Putin said Russia, brokered by Turkey and the United Nations, signed the deal in July on the understanding that it would help ease soaring food prices in developing countries, but ultimately it was wealthy Western countries that were taking advantage of the deal
    .
    Only two of the 87 ships (departing from Ukraine's Black Sea ports) carry 60,000 tons of products to poor countries
    .
    He accused Western countries of still acting
    like colonizers.
     
    On September 8, French producer group AGPB said it had harvested 33.
    6 million tonnes of soft wheat in France this year, down from 35.
    4 million tonnes in 2021 but close to the average in
    recent years.
    The group said potential fertilizer shortages were posing a risk
    to the outlook for French wheat production next year.
    Farmers' fertilizer coverage is 20 percent
    lower this year than it was a year ago.
    Rising fertilizer and energy costs are eroding growers' profits
    , AGPB said.
     
    On August 30, consultancy Agritel forecast French soft wheat production at 33.
    63 million tonnes in 2022, up from 33.
    44 million tonnes forecast a month ago, but still below the average
    for the past five years.
    French soft wheat exports were unusually fast at the start of the year, with a total of 2.
    5 million tonnes exported in July and August, roughly equivalent to 25%
    of the year's export potential.
    Wheat, which is normally shipped before the end of August, accounts for 14%
    of annual exports.
    This could reflect the disruption of Black Sea exports caused by the Russian-Ukrainian conflict this year, prompting overseas buyers to increase
    demand for French wheat.
    However, given the relatively low production of French wheat and the gradual acceleration of Ukraine's black sea exports since August, the export rate of French wheat in the past two months has not been sustainable
    .
     
    France is the largest supplier of wheat to the EU, and Agritel expects France to export 10.
    2 million tonnes of soft wheat outside the EU in 2022/23, down from the 10.
    95 million tonnes
    estimated at the end of July.
    Due to relatively low production and active exports, French wheat ending stocks at the end of June 2023 are estimated at only 2.
    2 million tonnes, which is a very low level
    .
     
    France AgriMer, the crop office of the French Ministry of Agriculture, said on Aug.
    25 that the proportion of soft wheat protein in France this year is less than 11 percent, compared with only 5 percent last year, which is less than 11 percent
    .
    The latest harvest results show that 31% of soft wheat has protein content of 11-11.
    5%, compared with 33% last week, and 23% of protein content is 11.
    5-12%, which is the same
    as last week.
    19% of the protein content is 12% and above, compared to last week's result of 20%.

    About 87% of soft wheat has a bulk weight of 76 kg per hectolitre, which is also a widely accepted standard for milling wheat, compared with 85% a week ago, and only 31%
    of the bulk weight index reached the milling standard last year.
    In terms of the drop value (Hagberg), 96 percent of wheat reads above 240 seconds, unchanged from the previous week, compared to just over half last year
    .
     
    The available production of EU soft wheat in the 2022/23 (July-June) eu soft wheat was 125.
    969 million tonnes in the monthly report released by the European Commission on 25 August, up from 1239.
    17 million tonnes forecast last month, but still lower than the previous year's 130.
    144 million tonnes
    .
    The EU maintained its eu soft wheat export expectations for 2022/23 unchanged at 36 million tonnes, up from 29.
    19 million tonnes in 2021/22 (forecast at 29 million tonnes
    last month).
    Ending stocks are expected at 15.
    72 million tonnes, up from 13.
    7 million tonnes expected last month and down from 16.
    62 million mt
    in the previous year.
     
    On August 12, the USDA lowered the EU's 2022/23 wheat production to 132.
    1 million tonnes in its supply and demand report, down 2 million tonnes from its July forecast and 4%
    lower than previous year's production.
    The wheat harvest in most EU countries is now over
    .
    Harvest reports show that drought and high temperatures have severely
    damaged wheat yields in Hungary, Spain, Romania and other countries.
     
    On August 11, Strategic Cereals lowered its EU soft wheat export forecast for 2022/23 to 29 million tonnes, down from the 30.
    4 million tonnes forecast last month and close to the previous year's level
    .
    Strategic Grains maintained eu soft wheat production forecasts at 123.
    3 million tonnes for 2022/23, down 6.
    5 million tonnes
    from the previous year.
    EU maize production was lowered by 10 million tonnes in 2022/23, down to 55.
    4 million tonnes from 65.
    4 million tonnes
    forecast last month.
    Lower maize supply could boost feed demand for
    wheat in the EU.
     
    On August 5, the French Ministry of Agriculture estimated French soft wheat production of 33.
    9 million tons in 2022, up from the 32.
    9 million tons forecast in July, but still lower than the previous year's production, which is roughly in line with market expectations, as strong production in northern France offsets the impact
    of drought in the southern region.
     
    In the French grain export hub Port de Rouen, the port exported 111,470 tonnes of grain in the week ended Sept.
    7, less than
    half of the 258,286 tonnes it had a week ago.
    Wheat exports were 79,000 tonnes, down 60 per cent
    from 175,000 tonnes the previous week.
     
    According to the European Commission, as of September 4, 2022/23 (July-June) 2022/23 (July-June) 27 countries exported 6.
    21 million tons, compared to 4.
    86 million tons in the previous week and 6.
    02 million tons in the same period last year; Imports were 680,000 tonnes, compared to 550,000 tonnes in the previous week and 450,000 tonnes
    in the same period last year.
    Eu-27 wheat exports reached 27.
    47 million tonnes in 2021/22, up 6.
    84% year-on-year; Imports were 2.
    46 million tons, up 21.
    49%
    year-on-year.
     
    Euronext holdings showed that as of September 2, investment funds and financial institutions held a net long of 74,185 lots in the Euronext milled wheat futures and options market, up from 68,747 lots
    a week ago.
     
    On Friday, the euro closed at 1.
    00 euros a week ago, compared to 1.
    00 euros a week
    ago.
     
    Note: 1 euro equals 1.
    00 USD
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