France sells 94% of EU’s wheat, EU down 20% YOY

In yet another slow week of EU wheat sales, only French exports were of note as they accounted for 94% of the bloc’s loadings, data from the European Commission showed Thursday.

A total of 137,327 mt left France in the week to February 27, taking total sales for the 2017/18 marketing year to 4.65 million mt, as others

EU-wide wheat sales came to just 145,594 mt leaving in the week to February 27 – leaving total sales down 20% on last year at 13.24 million mt.

Increased competition from overseas, a strong euro, and intra-EU demand are all combining to keep EU wheat exports low.

Elsewhere, corn imports also dropped week-on-week to 230,481 mt, although total volumes remain up 49% on the same stage last year at 10.97 million mt.

Soybean imports came to 249,180 mt – largely in line with the week before – leaving import volumes at 8.36 million mt, up 7% on the same stage last year.