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German importers buy feed wheat as dry weather hits crop

HAMBURG: German importers last week purchased about 300,000 tonnes of feed wheat from European Union countries in th
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HAMBURG: German importers last week purchased about 300,000 tonnes of feed wheat from European Union countries in the Black Sea region, traders said on Tuesday.

"I think the purchases aim keep a lid on prices with the poor harvest in Germany this year set to tighten supplies," one German trader said.

The wheat was bought at around 183 euros ($214.3) a tonne c&f largely from Romania and Bulgaria with shipments starting in September/October.

Germany is traditionally a leading wheat exporter but a very dry summer means a sharp fall in the country's wheat crop is expected.

"German wheat imports do take place regularly but I think these large deals show that more could be on the way in coming months," another trader said. "Germany's harvest this summer has certainly been reduced by the very dry weather in May, June and July."

"I think wheat supplies in Germany will be considerably tighter than expected even only a few weeks ago."

Copyright Reuters, 2018