EU Wheat Ends Quiet Session Modestly Lower
EU wheat ended a quiet day Friday modestly lower with November Paris milling wheat down EUR0.25 at EUR145.25/tonne, and London November feed wheat 25 pence lower at GBP117.25/tonne.
Volume was low, with some market participants celebrating Midsummer's day.
Wheat prices have fallen sharply since the beginning of the month, but at least the pace of those declines seems to have been arrested in the last few sessions, with downwards moves becoming increasingly smaller.
Barley harvesting has begun in some eastern European countries, and will quickly spread west and into wheat.
The wheat harvest is also underway in North America, having spread from Texas and Oklahoma as far north as Kansas.
Export demand is slack, with Egypt this week cancelling an import tender without explanation.
Farmers are reluctant sellers though at current levels, preferring to busy themselves with harvesting, hoping for better prices to come.
Volume was low, with some market participants celebrating Midsummer's day.
Wheat prices have fallen sharply since the beginning of the month, but at least the pace of those declines seems to have been arrested in the last few sessions, with downwards moves becoming increasingly smaller.
Barley harvesting has begun in some eastern European countries, and will quickly spread west and into wheat.
The wheat harvest is also underway in North America, having spread from Texas and Oklahoma as far north as Kansas.
Export demand is slack, with Egypt this week cancelling an import tender without explanation.
Farmers are reluctant sellers though at current levels, preferring to busy themselves with harvesting, hoping for better prices to come.