Germany's Wheat Harvest Remains 15% Unsold, Group Says

Germany’s 2011 wheat crop remains about 15 percent unsold, while barley and rapeseed are “practically sold out,” according to farm-industry group Bundesverband der Agrargewerblichen Wirtschaft e.V.

Feed makers in particular haven’t yet covered their requirements, meaning remaining old crop can be sold “without a problem” in coming months, the Bonn, Germany-based group wrote in a statement on its website today.

The “tight” supply of international corn and soybean markets suggests grain and oilseed prices will remain firm until the next harvest, BVA wrote. Barley will stay in demand, and the 2012 wheat and rapeseed harvests will find buyers, according to the group.

To contact the reporter on this story: Rudy Ruitenberg in Paris at rruitenberg@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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