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European wheat market: strong demand in China, rising wheat prices in French ports

 Last Update: 2022-01-07
 Source: Internet
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Foreign media news on December 26: The spot price of French wheat increased in the past week , mainly due to the boost in export demand .
The recent decline in wheat prices has helped to attract growth in China 's import demand .

On Thursday (December 23), the delivery price of first-class French wheat at the port of Rouen in France was US$332/ton, an increase of US$11 from a week ago
.
The price range for the past 52 weeks has ranged from US$240 to US$353 per ton
.

The price of second-class wheat in Shanghe, Argentina was US$317/ton, down by US$1 from a week ago; the price of No.
2 hard red winter wheat in the United States was US$394/ton, up by US$25 from a week ago; the price of US No.
2 soft red winter wheat was US$349 /Ton, up 16 dollars from a week ago
.

On the Euronext in Paris, France, March 2022 wheat futures, the most actively traded on Friday, closed at 290.
25 euros/ton, up 11.
75 euros or 4.
22% from a week ago, while Chicago wheat futures rose 5.
1% over the same period
.

　　The increase in China's demand for French grains has helped wheat prices stop falling and recover
.
According to data from French port operator Haropa, in the week ending December 22, the port’s wheat exports were 270,293 tons, an increase of 90% from the previous week, most of which were exported to China, with the amount reaching 206,600 tons.
This is higher than the 96,100 tons a week ago
.
Since the start of the Japanese year on July 1, France has exported 805,703 tons of wheat to China through the port of Rouen, making China the number one destination for French wheat
.

　　On December 16, the French Strategic Grain Company issued a monthly report, increasing the export volume of soft wheat from the 27 EU countries for the period of 2021/22 by 1.
1 million tons, because the fall in French wheat prices will help strengthen its competitiveness in the world market.

.
For the year from July 2021 to June 2022, the EU-27 soft wheat exports are expected to be 31.
5 million tons, higher than the 30.
4 million tons estimated last month
.

　　In terms of EU cereal production prospects, the EU crop monitoring agency MARS released a report this week that European winter crops are growing well, but warned of the risk of frost damage
.
The frost resistance of crops in central, eastern and southeastern Europe has been insufficient.
The growth of crops in the Black Sea region has been delayed due to late planting, and the risk of frost may be greater
.

　　The European Chamber of Grain Traders (COCERAL) predicts that soft wheat production in the EU and the United Kingdom may decrease in 2022, because the wheat yield in the Balkans will fall back to average after setting a record this year
.
COCERAL predicts that the soft wheat production of the 27 EU countries and the United Kingdom will be 139.
8 million tons in 2022, down from 143.
2 million tons in 2021
.

　　However, the European Commission has raised EU wheat production, raising the EU's common wheat production forecast for 2021/22 from 130.
4 million tons to 131.
6 million tons, which is also higher than the previous year's 119.
3 million tons
.

　　According to data from the European Commission, as of December 19, the export volume of wheat from the 27 EU countries reached 13.
36 million tons (13.
11 million tons last week) and the import volume was 1.
26 million tons ( 1.
18 million tons last week)
.
Algeria is the number one destination, importing 2.
161 million tons (2.
113 million tons last week), accounting for 16.
2% (last week 16.
2%); Egypt imported 1.
327 million tons (1.
264 million tons last week), accounting for 9.
9% (last week) Week 9.
6%)
.

　　Euronext's position data shows that as of December 17, investment funds and financial institutions held a net long position of 167,029 contracts in the Euronext milling wheat futures and options market, down from 181,779 a week ago
.

　　On Friday, the euro exchange rate was 1 euro to 1.
13 U.
S.
dollars, and 1 euro to 1.
12 U.
S.
dollars a week ago
.

　　Note: 1 Euro is equal to 1.
13 U.
S.
dollars

French wheat prices exported to China imported

　　On Friday, the euro exchange rate was 1 euro to 1.
13 U.
S.
dollars, and 1 euro to 1.
12 U.
S.
dollars a week ago
.

　　Note: 1 Euro is equal to 1.
13 U.
S.
dollars

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