EU Wheat Ends Slightly Lower
EU wheat futures ended slightly lower Tuesday with London November feed wheat ending down GBP0.25/tonne at GBP104.85/tonne, and Paris November milling wheat down EUR0.75 at EUR124.75/tonne.
As per normal it was another day of apathy, with farmers reluctant sellers and buyers content to sit on their hands.
The long-awaited USDA report pegged global wheat production higher at 671.89 MMT, up from 668.12 MMT last month, although that was no great surprise.
We are really treading water at the moment until we get a clearer picture of Eu and FSU production later in the year. Output from India and China also warrants keeping an eye on, as there is potential there for some production hiccups later in the year.
As per normal it was another day of apathy, with farmers reluctant sellers and buyers content to sit on their hands.
The long-awaited USDA report pegged global wheat production higher at 671.89 MMT, up from 668.12 MMT last month, although that was no great surprise.
We are really treading water at the moment until we get a clearer picture of Eu and FSU production later in the year. Output from India and China also warrants keeping an eye on, as there is potential there for some production hiccups later in the year.