EU Wheat Continues To Fall
EU wheat futures continued their downwards spiral Wednesday with Paris November milling wheat ending down EUR0.25 at EUR145.25/tonne and November London feed wheat closing down GBP0.50 at GBP117.50/tonne.
At least the magnitude of the fall seems to be diminishing, both London and Paris futures have closed lower in eleven sessions out of thirteen this month, Unlucky for wheat!
As per usual it's lack of buyers that's the main problem, and what export orders are around are being fiercely contested by the usual suspects from the Black Sea, with this season's harvest already underway in Ukraine.
In the US harvesting of winter wheat has now begun as far north as southern Kansas, with reports of significantly better yields than the more southerly state of Texas.
At least the magnitude of the fall seems to be diminishing, both London and Paris futures have closed lower in eleven sessions out of thirteen this month, Unlucky for wheat!
As per usual it's lack of buyers that's the main problem, and what export orders are around are being fiercely contested by the usual suspects from the Black Sea, with this season's harvest already underway in Ukraine.
In the US harvesting of winter wheat has now begun as far north as southern Kansas, with reports of significantly better yields than the more southerly state of Texas.