This week French wheat futures rallied to highs not seen since mid July. The strong EU export pace continued to progress and has now reached 10.77 million tonnes – 3.7 million tonnes ahead of last year.
Slow farmer selling and ongoing wet weather conditions which are delaying the French corn harvest and winter wheat planting are both contributing factors to the rise in wheat prices. However, the French are still enjoying more favourable planting conditions than we are in the UK. By 25th November, wheat drilling in France had advanced 6 points during the week to 80% complete, but the crop condition fell 3 points during the week to 75% rated 'good' to 'excellent'.