September 26, 2008

 

No licenses granted in EU wheat, corn intervention tender

 

 

No wheat was granted or offered and although 4,971 tonnes of corn was offered none was granted, at Thursday's (September 25) European Union intervention resale tender, European Commission data showed.

 

The tender remains open to resale Hungarian intervention wheat and corn back onto the domestic market, but interest has dwindled as stocks are nearly depleted and after this year's bumper wheat harvest.

 

Starting back in the 2006-07 marketing year (July-June), the EU opened tenders to resell grain held in public intervention stores back on the internal market, and carried on through the 2007-08 and 2008-09 marketing years.

 

After totalling about 14 million tonnes at the start of the 2006-07 crop year, public intervention stocks have been nearly used up.

 

The grain isn't allowed to be granted below domestic or intervention prices. 
              

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