Written Commentary
London Wheat Report
As might have been expected given this year’s less than ideal growing conditions in mainland Europe, it has to date been reported that soft wheat exports from the EU are down 23%. From the start of the 2024/25 season, exports have only reached 4.82 mmt (as of Sept. 8th). Barley was also reported to have been affected, with exports totalling 1.32 mmt over the same time period, down 34% from 2.01 mmt in the corresponding period of 2023/24.
The EU Commission did also note that France’s export data was not yet complete, so data could well change from the current reported stats. As it stands, a breakdown of this season’s soft wheat volume showed Romania was the leading EU soft wheat exporter with 1.72 mmt so far.
Further afield, Reuters reported that China has imported a record 12.14 mm of soybeans in August, a jump of 29% from 9.43 mmt a year ago. It can be concluded that the lower prices available allowed traders to stock up amid concerns that trade tension with the United States could intensify if the Donald returns as president. China’s General Administration of Customs posted that total soy arrivals into the country for the first eight months of the year stood at 70.48 mmt, up 2.8% on the year.
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