EU Wheat Ends Higher As Flu Panic Subsides
EU wheat futures closed higher Wednesday as the initial panic over demand concerns related to the swine flu outbreak in Mexico subsided.
Outside markets provided underlying support with crude oil and Europeana and Asian stock markets also higher.
Paris May milling wheat closed up EUR1.50 at EUR140.75/tonne, and London November feed wheat ended up GBP1.35 at GBP122.25/tonne.
Cold and wet weather is hindering US spring wheat plantings, especially in the important state of North Dakota which produces almost half of all US spring wheat. The crop there is just 1% planted as of Sunday according to the USDA.
Outside markets provided underlying support with crude oil and Europeana and Asian stock markets also higher.
Paris May milling wheat closed up EUR1.50 at EUR140.75/tonne, and London November feed wheat ended up GBP1.35 at GBP122.25/tonne.
Cold and wet weather is hindering US spring wheat plantings, especially in the important state of North Dakota which produces almost half of all US spring wheat. The crop there is just 1% planted as of Sunday according to the USDA.