EU Wheat Futures Narrowly Mixed In Thin Trade

EU wheat futures are narrowly mixed in quiet, thin trade Tuesday with November Paris milling wheat EUR0.50 higher at EUR145.50/tonne and January London feed wheat up GBP0.60 at GBP93.75/tonne.

A choppy dollar ahead of the US presidential election is making trade difficult, if things weren't tricky enough already. Crude oil can't seem to make its mind up either today flitting either side of last night's close of $63.91/barrel.

Likely changes in EU interest rates Thursday is keeping participants on the sidelines. A one percentage point drop by the BoE and ECB could send the pound and euro sharply lower improving export chances.

The HGCA say that 90% of the planned UK winter barley crop and 85% of the planned winter wheat acreage is already in the ground. Unfortunately they don't seem to be telling us what size these actual planned acres are in relation to 2007 plantings of 0.42m hectares and 2.07m hectares respectively.

UK rapeseed plantings are likely to be 10-20% down on last years 0.599m hectares, they say.