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Wheat prices in Western Europe were lower last week, slipping back from a seven-month high set earlier in the week, weighed partly by a stronger euro.
The euro rose to a five-week high against the dollar on Friday, potentially making EU wheat less competitive in export markets although there has so far been little sign of any slowdown in demand.
Of the 572,000 tonnes of EU soft wheat export licences awarded this week, 291,000 tonnes were taken by Germany and 110,000 tonnes in France," the trader said. "To my mind this is an illustration of strong international demand for high-quality wheat in export markets with the Black Sea region fading from the export scene."
EU wheat export licences can be used in any EU country, not just where they are issued to.
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