The European Union awarded 194,900 tonnes of free-market wheat at its export tender on Thursday with a subsidy of 5.89 euros a tonne, higher than last week but with a lower tonnage, official data showed. The news was officially released after the close of the French market. Front-month May closed flat at 101.50 euros. The decision is the second award after the EU agreed to increase the amount available under the tender by one million tonnes to three million. Last week the panel awarded exports of 251,500 tonnes with a refund of five euros.
The EU grain panel will not meet next week due to a holiday in Europe. French cereals office ONIC has said the EU should be granting high enough subsidies to allow 500,000 tonnes a week to be exported or current export estimates for the bloc might have to revised downwards.
The EU also sold wheat from intervention stores under special tenders designed to ease the pressure of large stocks in central Europe. Sales were made for 54,240 tonnes of wheat stored in the Czech Republic at 91.22 euros a tonne.