October 31, 2012

 

Germany expects rise in export sales on Ukraine's wheat export ban

 

 

Following the introduction of Ukrainian wheat exports ban which will occur on November 15, German grain traders hope for an increase in export sales, while the withdrawal of Russian wheat from the international market is a matter of time.

 

"The export outlook is positive following Ukraine's announcement of its wheat export ban last week, and it seems only a matter of time before Russia leaves the export market too," reads the statement.

 

"EU wheat looks to be price-competitive and along with Argentina, Canada and Australia is likely to take over the export burden in the coming weeks and months from the Black Sea region. Germany was seen likely to win some export business for higher quality wheat," experts predicted.

 

A bulk carrier is currently loading about 60,000 tonnes of wheat in Hamburg for shipment to Iran as part of previous sales this summer, and people are expecting more deals from Iran and elsewhere, according to traders.

 

Feed wheat for November-December delivery in the South Oldenburg market near the Netherlands was offered for sale close to milling wheat, up EUR2 (US$2.6) at EUR267 (US$346) with buyers at around EUR265 (US$343), on expectations of tighter feed grain supplies in coming months as Black Sea region supplies sell out.