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European wheat exports exceed as compared to last year
As per reports EU common wheat export licenses issued in recent past have surpassed previous records by almost 10-12%. Wheat export licenses granted by the EU were 31.3 Mt compared to US commitments of 23.3 Mt which were down 26% on last year. The strengthening of dollar as compared to euro may be a contributing factor. The Egypt went in for a lot of European wheat import.
As per predictions The European bakers are depending on local wheat’s rather than importing their high protein wheat flour stocks from Canada or other countries. The reason stated for this is possibly that there were no sprout damage due to rains this season as compared to last season.
