London Feed Wheat Hits Fresh Lows
London feed wheat futures recorded new lows with November hitting 128.00 pounds a tonne, the lowest level for the contract since late November 2007.
The contract is set to close the week lower for the 5th time in a row as pressure from this year's large harvest continues to hang over the market
Benchmark November on Euronext milling wheat futures was down 1.25 euro or 0.65 percent at 190 euros a tonne, offsetting Thursday's thin rise.
The contract was also influenced by the 1.3 percent fall in November maize at 187.00 euros a tonne on the outlook of high feed wheat supplies.
The spread between the two contracts was around 10 euros, in favour of maize, at the start of the month.
Oil prices fell more than 2 percent on Thursday, capping the market's worst month in more than three years, as weak U.S. economic data reinforced worries about shrinking demand in the world's top energy consumer. Crude stands almost a dollar easier at $123.10/barrel at 13.30BST.
The contract is set to close the week lower for the 5th time in a row as pressure from this year's large harvest continues to hang over the market
Benchmark November on Euronext milling wheat futures was down 1.25 euro or 0.65 percent at 190 euros a tonne, offsetting Thursday's thin rise.
The contract was also influenced by the 1.3 percent fall in November maize at 187.00 euros a tonne on the outlook of high feed wheat supplies.
The spread between the two contracts was around 10 euros, in favour of maize, at the start of the month.
Oil prices fell more than 2 percent on Thursday, capping the market's worst month in more than three years, as weak U.S. economic data reinforced worries about shrinking demand in the world's top energy consumer. Crude stands almost a dollar easier at $123.10/barrel at 13.30BST.