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November 24, 2015

 

France's wheat to be shipped to Indonesia since 2008/09
 

 

Animal-feed companies in Indonesia are satisfied with France's wheat prices, leading to the first French exports about to enter the country since 2008/09, Reuters reported.

 

An Indonesia-bound vessel will be loaded with nearly 50,000 tonnes of wheat at the northern French port of Rouen, according to sources. Other shipments could follow, with most setting forth in December. Another source expected a range of between 400,000 tonnes and 500,000 tonnes of wheat to be received by Indonesia.

 

These deliveries helped to support Europe's wheat prices which increased this week. Furthermore, interest in French wheat grew due to limited supplies from Ukraine and the costliness of Australian wheat. 

   

In the meantime, December milling wheat, the benchmark on Paris-based Euronext futures, was EUR1.25 (US$1.33) or 0.7% higher by 1701 GMT (November 23), at EUR177.50 (US$188.61) per tonne.

 

Recent premiums were bolstered by a healthy demand and seller retention, said brokers on the cash market.

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