UK delivered wheat fa! lls 50p to £2. Feed wheat delivered E Anglia fell £1.50 to £69 for July and 50p lower to £72 for November. Greater falls were seen in the North and West.

EU opens 5Mt of new crop export tenders - 3Mt open market grain and 2Mt of intervention. The Commission tenders open for bidding on 14 July (except oats) and will allow EU grain traders to bid for export refunds to ship grain onto the world market. The level of refund likely to be granted remains unclear at this stage but is likely to be determined by the relative price differential between EU and world grain markets along with political issues. Open market tenders included 2Mt of wheat and 1Mt of barley, intervention tenders included 1.19Mt of wheat, 0.4Mt barley and 0.5Mt rye.

EU opens tenders for the sale of 0.76Mt of maize within the EU. This includes 0.5Mt of maize from Hungary. With new crop maize not available until September and October the Commission were reportedly hoping to benefit from current higher maize prices within the EU to allow the intervention grain to be sold before new crop supplies arri! ve.

EU announce transfer of 0.5Mt intervention grain from to Spain. The EU has authorised the transfer of intervention grain to Spain for storage including 0.2Mt of wheat and 0.1Mt of maize from Hungary, 0.1Mt of Slovak maize and 0.1Mt of Germany barley. No details were given as to when and how this would take place.

US grain prices rise on hot, dry weather, but rains forecast. Maize prices rose $3 to $100/t FOB Gulf, though rain is expected soon. The USDA report that 22% of the winter wheat crop has been harvested with protein levels seen lower in the Hard Red Winter crop.

Australian plantings back on track as further heavy rain falls . Plantings were in full swing with conditions now reported as excellent in many Eastern areas. Expectations have been revised back up to over a 22Mt wheat crop, compared to ABARE estimates as low as 16Mt before the rains.