EU wheat exports down 19% YOY.

EU wheat exports continue to lose ground on previous years, with 135,143 mt of wheat leaving in the week to February 21. Tough global competition has seen Russia, Argentina and Canada steam ahead at the EU’s expense this year, while a stronger euro has only exacerbated the problem for European sellers. Total EU wheat exports now stand at 13 million mt, 19% lower than at the same stage last year. And while separate European Commission data shows intra-EU demand picking up some of the slack in export volumes, total sales between member states are still down on the same stage as last year. France was again the only exporter of note in the week, selling 91,800 mt to take its total for the 2017/18 marketing year to 4.52 MMT.