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    Home > Food News > Food Articles > European wheat market: French wheat prices rose further

    European wheat market: French wheat prices rose further

    • Last Update: 2022-09-30
    • Source: Internet
    • Author: User
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    French wheat prices
     
    As of Thursday (September 22), the delivery price of first-class French wheat at the port of Rouen, France, was $346/ton, up $
    5 from a week ago.
    The price range for the past 52 weeks has been $305 to $
    472 per tonne.
     
    The price of second-class wheat on the upper river of Argentina on Thursday was $405/mt, up $5 from a week ago; The price of hard red winter wheat in the United States No.
    2 was $443/mt, up $18; The price of soft red winter wheat in the United States No.
    2 was $399/mt, up $
    22.
    At Euronext Paris, the most actively traded December wheat futures on Friday closed at 346.
    25 euros/mt, up 3.
    7% from a week ago; Chicago wheat futures rose 2.
    4 percent
    over the same period.
     
    The wheat market has focused on the Russian-Ukrainian conflict
    over the past week.
    With Russia announcing a partial mobilization, the Russian-Ukrainian conflict is at risk of escalation, creating uncertainty about
    the prospects of the Black Sea cereal export corridor.
    There are fears that the prolonged continuation of the conflict could affect Ukraine's wheat production and exports
    in the coming year.
     
    FranceAgriMer, a division of the French Ministry of Agriculture, said on its website on Thursday that the average protein content of soft wheat in France this year was 11.
    4 percent, lower than the previous five-year average of 11.
    9 percent
    .
    Despite the effects of dry and hot weather in the spring and summer, wheat quality was generally very satisfactory
    , the report said.
    About 59% of the crops are of excellent
    quality.
     
    French wheat specialist Intercereales is expected to import soft wheat from Morocco to 4.
    5 million to 5 million tonnes in 2023 due to dry weather, up from an average of 3 million tonnes
    in the past 10 years.
    France alone exported more than 1 million tonnes of soft wheat to Morocco this summer, and France is expected to export as many as 2.
    5 million tonnes of soft wheat
    to the North African country by the end of the year.
     
    On September 13, the French Ministry of Agriculture raised French wheat production for the second consecutive month, from 33.
    87 million tons forecast in August to 34.
    122 million tons, although it was still 3.
    7% lower than last year's 35.
    434 million tons and 2.
    4%
    lower than the five-year average.
     
    On September 12, the USDA kept EU wheat production unchanged for 2022/23 at 132.
    1 million tonnes, down 4%
    from the previous year.
    The drought and heat of summer have damaged
    production in Hungary, Spain, Romania and other countries.
     
    According to the European Commission's monthly report released on August 25, the available production of soft wheat in the EU in 2022/23 (July-June) was 125.
    969 million tonnes, higher than the previous month's forecast of 123.
    917 million tonnes, but still lower than the previous year's 130.
    144 million tonnes
    .
    The EU left its 2022/23 soft wheat export forecast unchanged and remained unchanged at 36 million tonnes, up from 29.
    19 million tonnes in 2021/22 (forecast last month at 29 million tonnes
    ).
    Ending stocks are expected to be 15.
    72 million tonnes, up from 13.
    7 million tonnes expected last month and down from 16.
    62 million tonnes
    in the previous year.
     
    As of September 18, wheat exports from the EU27 countries in 2022/23 (July-June) were 8.
    06 million tonnes, compared to 7.
    54 million tonnes in the previous week and 8.
    07 million tonnes in the same period last year, according to the European Commission; Imports were 900,000 tons, compared to 800,000 tons the week before and 540,000 tons
    in the same period last year.
    Wheat exports from the EU27 reached 27.
    47 million tonnes in 2021/22, up 6.
    84% y/y; Imports were 2.
    46 million tons, up 21.
    49%
    year-on-year.
     
    Euronext position data shows that as of September 16, investment funds and financial institutions held net long orders of 101,052 lots in the Euronext milling wheat futures and options market, up from 92,221 lots
    a week ago.
     
    On Friday, the euro exchange rate closed at $0.
    97 to the euro, up from $1.
    00 a week earlier
    .
     
    Note: 1 euro is equal to 0.
    970 USD
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