Developing Countries Will Lead Global Rice Import Growth in 2013-22, Says USDA Rice growers positive California MG prices are UP Russia MG Harvest coming to end Egypt open rice exports Vietnam’s rice export in tough competition with India Thai rice exports in May Rise Above Target This Year Viet-Nam Rice exports likely to fall this year
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French wheat prices down, maize firm
PARIS ,French wheat slipped back on Tuesday as traders booked profits on the market's sharp rise on Monday and took their cue from falling US futures, but maize resumed its rise on fresh demand from feed makers, traders said.
Euronext wheat futures were mixed by mid-afternoon with the two nearby positions of November and January down 1.25 and 1.00 euros a tonne at 135.00 and 136.50 euros respectively.
On the cash market, basis Rouen, bid prices dropped between two and three euros a tonne to 131-132 euros a tonne for loading in October/December. On Monday, cash wheat reached 134 euros.
"The market is taking time out after a three-euro rise yesterday and all the excitement of the last two weeks," one trader said.
The November position has risen by around 20 percent since early July as severe weather cut into the EU harvest total.
"We are not far away from being uncompetitive on the export front. We would need other bullish factors to go much higher," another trader added.
Maize, on the other hand, resumed its upward path, supported by a return to the market by animal feed makers at the expense of wheat.
Futures were up between 0.50 and 1.50 euros by mid-afternoon, with November posting a 0.50 euro gain at 146.00 euros a tonne.
"The differential between the price of maize and that of wheat has caused the re-incorporation of maize into feed for certain animals," one trader noted.
MGR Archive 3.9.2003
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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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