The European Union this week granted export licences for a record 1.67 million tonnes of soft wheat, taking the total since the beginning of the 2014/15 (July-June) season to 18.4 million tonnes, official data showed on Thursday. The previous record for weekly EU wheat export licences dates from September 2010 when it cleared a volume of 1.03 million tonnes, data compiled by Reuters showed.
Total licences granted so far this season are now above the volume cleared by the same stage in 2013/14, which stood at 18.2 million tonnes. The EU went on to set a full-year record for soft wheat exports at the end of 2013/14 at 30 million tonnes. EU wheat has benefited from a drop of the euro against the dollar in recent weeks, making it more competitive on world markets, as well as easing competition from Russia which has imposed duties on wheat exports.
European milling wheat futures rose after the release of the export figures, with March up 2.75 euros or 1.5 percent at 189.25 euros a tonne by 1538 GMT. The EU also granted this week licences to export 310,000 tonnes of barley, bringing the total this season to 5.4 million tonnes compared to 4.8 million tonnes at the same stage last season, the data showed. It also granted licences to import 141,000 tonnes of maize, bringing this season's total to 5.4 million tonnes compared to 7.4 million tonnes by the same stage last season.
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