Big corn deliveries push EU imports 24% above last year

0

It was a huge week for EU corn imports as 582,658 mt arrived in the bloc in the week to November 11, the biggest single week of imports since March 2017, data from the European Commission showed Monday.

Big buying in the Netherlands (297,623 mt) and Spain (129,712 mt) drove this week’s volumes, with Ireland (46,658 mt), France (28,202 mt) and Italy (27,507 mt) also in the market.

It takes total imports to 6.6 million mt, up 24% from last year as EU buyers have snapped up cheap Ukrainian cargoes as they have shied away from higher-priced feed wheat and barley.

That said, EU wheat imports are also up 45% higher year-on-year at 1.7 million mt, with buyers in the UK (31,262 mt) picking up the biggest order this week.

But exports remain slow as its volumes are priced out of the market, with only France (122,031 mt) and Poland (63,296 mt) the only sellers of note in the week.

Total wheat exports are down 24% from last year at 5.89 million mt.


agricensus