Local demand drives EU wheat consumption despite poor exports.

Demand from west European consumers is driving wheat buying and mitigating the worst effects of a season which has seen EU sellers losing market share to Russia. EU wheat sales got a boost as the USDA added 2.15 million mt to its domestic consumption total in its monthl. After a year of poor export figures, EU domestic consumption for 2017/18 is now forecast at 130.9 million mt, 2% higher than last year and 6% above the five-year average.