EU Wheat Closing Comments
EU wheat closed narrowly mixed with March Paris milling wheat down EUR1.00 at EUR150.50/tonne, and London May feed wheat unchanged at GBP119.25/tonne.
The USDA numbers didn't throw up too many surprises. The Argy wheat crop was dropped to 8.4mmt, but that was ,ore like the USDA playing catch-up as a figure around 8.5mmt was already in the market from thes like of the Buenos Aires Cereals Exchange.
US wheat ending stocks were left unchanged, which was also in line with expectations.
For the EU crop more export business is needed before attention starts to focus on the 2009 crop.
The USDA numbers didn't throw up too many surprises. The Argy wheat crop was dropped to 8.4mmt, but that was ,ore like the USDA playing catch-up as a figure around 8.5mmt was already in the market from thes like of the Buenos Aires Cereals Exchange.
US wheat ending stocks were left unchanged, which was also in line with expectations.
For the EU crop more export business is needed before attention starts to focus on the 2009 crop.