EU wheat exports up on week, remain 24% down year-on-year

EU wheat exports surged to their highest level in weeks as 422,463 mt of licences were issued in the week to April 11 after another strong showing from French exporters, data from the European Commission showed Thursday.

The biggest weekly export total in almost three months, the figure is almost 50,000 mt higher than the average volume exported over the course of the marketing year.

French sellers loaded 260,527 mt in the week, taking total French overseas sales to 5.8 million mt for the 2017/18 marketing year.

Despite that, European third country exports remain 24% below the same stage last year at 15.2 million mt, as increased domestic demand, tough overseas competition, and a strong euro have kept wheat at home.

Weekly corn imports came to 233,701 mt, taking the year’s total to 13.4 million mt – up 47% year-on-year.

Soy imports figures were delayed due to a technical hitch.