EU Wheat Closing Comments
EU wheat closed mixed with London November feed wheat ending down GBP0.35/tonne at GBP104.90/tonne, and Paris January milling wheat up EUR0.75 at EUR131.75/tonne.
Egypt bought 295,000 MT of Russian wheat in it's tender today, that shouldn't really have surprised anybody too much, but it seems like it did. It's back to business as usual it seems.
"Oh look, a large suitcase stuffed with money, condoms, champagne and and a naked dancing girl seems to have inadvertently fallen into my lap. I'll take that down to the police station first thing in the morning, there's no point rushing down there right now, it'll be shut," said nobody to do with anything.
That leaves Europe and the US fighting over, shall we say, more discerning buyers. Unfortunately they are few and far between at the moment.
French analysts Strategie Grains say that cereal plantings in the EU-27 will fall by more than a million hectares to 56.97 million ha for the 2010 harvest. The soft wheat area will however increase by 1% to 22.86 million hectares, they say.
The grain harvest in Western Australia is off to a slow start hampered by rain. Farmer selling remains light due to unfavourable prices, accentuated by the strong Ozzie dollar.
Argentine wheat might have suffered some damage from a recent frost, sources suggest.
Egypt bought 295,000 MT of Russian wheat in it's tender today, that shouldn't really have surprised anybody too much, but it seems like it did. It's back to business as usual it seems.
"Oh look, a large suitcase stuffed with money, condoms, champagne and and a naked dancing girl seems to have inadvertently fallen into my lap. I'll take that down to the police station first thing in the morning, there's no point rushing down there right now, it'll be shut," said nobody to do with anything.
That leaves Europe and the US fighting over, shall we say, more discerning buyers. Unfortunately they are few and far between at the moment.
French analysts Strategie Grains say that cereal plantings in the EU-27 will fall by more than a million hectares to 56.97 million ha for the 2010 harvest. The soft wheat area will however increase by 1% to 22.86 million hectares, they say.
The grain harvest in Western Australia is off to a slow start hampered by rain. Farmer selling remains light due to unfavourable prices, accentuated by the strong Ozzie dollar.
Argentine wheat might have suffered some damage from a recent frost, sources suggest.