News
20.01.2010
EU wheat hardly damaged by winter
European Union wheat plantings have come through the winter so far without major weather damage, Germany's largest grain trading house Toepfer International said on Tuesday. "There are currently very low temperatures in important wheat production regions," it said in a report. "But no large weather damage is to be expected in the EU."
Germany has experienced deep frosts between minus 10 to minus 15 degrees centigrade, it said. But grain crops were protected by snow and only minor weather damage was expected. The exact picture would only become clear in March. Meanwhile, EU wheat exports are reaching expectations but the US dollar's general weakness continued to hinder business, it said.
But EU wheat continued to face tough competition in key Middle Eastern markets from cheap Russian and Ukrainian wheat while Egypt was buying more Russian and Kazakh wheat and less from France, it said. EU maize (corn) prices were little changed in past weeks but maize remained more expensive than wheat, meaning animal feed producers were keeping maize use to a minimum.
Reuters
