French grain office ONIC received offers to sell 76,379 tonnes of wheat into intervention stores last week, ONIC data showed on Monday. Net grain offers now totalled 2.49 million tonnes, comprising 2.19 million tonnes of wheat, 229,448 tonnes of barley and 67,560 tonnes of maize, ONIC said. The data showed barley offers rose 32,730 tonnes over the past week but maize dropped by 1,500 tonnes. These offers were either rejected because the grains did not meet intervention criteria or were retracted by farmers.
The European Union's intervention stores open between November 1 and the end of May and, as long as quality standards are met, farmers can sell their grain for a guaranteed price of 101.31 euros a tonne, plus a 0.46 euro monthly bonus.
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