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UK wheat exports seen at 1.5 million tonnes
LONDON , Three-quarters of this season's estimated UK wheat surplus of two million tonnes should be sold by end-December, grain shipper Glendale Agriculture said on Tuesday.
"Grain exports are booming for the UK trade, and in particular for Glendale, which has 10 vessels loading this week alone," trading director David Shepherd said.
Shepherd said more than 600,000 tonnes of British wheat would be exported by the end of September, with a further 300,000 tonnes per month moving in the October-December period.
"UK wheat is in demand across the European Union following a poor French wheat crop, worries over the German crop and the ongoing extremely hot weather that threatens the maize crop in France and Italy," Shepherd said.
"By Christmas, the UK could well have exported 1.5 million tonnes of wheat," he added.
Glendale, which pegs the 2003/04 (July-June) wheat export surplus at 1.95 million tonnes against the 2.72 million previously forecast, said only 500,000 tonnes would be left to export from January to June.
The company also cut its production forecast for this season's wheat crop by 800,000 tonnes to 14 million tonnes.
Sheared said UK wheat yields had dropped by between five and 10 percent from last year according to surveys and reports from farmer clients based in an area from Durham in the north of England through to Essex in the southeast.
MGR Archive 13.8.2003
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Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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