EU weekly wheat exports fall to third-lowest level on record

Weekly EU wheat exports came in at a seasonally-unusual low of 81,908 mt, the third-lowest figure of the last three years, data from the European Commission showed Thursday.

Prior to the week ending February 13, only two weeks have fallen below the 81,908 mt figure, with both falling at the height of the off-season as harvests were underway.

Only France had export volumes of note over the week, with 60,619 mt of wheat leaving to take its marketing year total to 4.42 million mt.

That’s 52% higher than at the same time last year.

It’s a bleaker picture for major exporters in the rest of the EU such as Germany, Poland, Bulgaria, and Romania.

Sales across the bloc are down 19% on the same stage last year at 12.84 million mt, as a stronger euro and increased competition from Russia and Argentina eat into traditional markets.

And while intra-EU demand has picked up some of the slack, rumblings of discontent are palpable among some producers who now face ending stocks that are likely to be almost a third higher than last year.

Elsewhere, corn imports continue to push higher, with 209,399 mt brought in this week.

It takes the marketing year’s total to 10.45 million mt– 52% higher than at the same stage last year.

Soybean imports now stand at 7.87 million mt, 5% lower year-on-year as 94,046 mt came into the EU this week.