EU Wheat Futures End With Little Change
EU wheat futures continue to tread water with little significant change showing up again on Wednesday. March Paris milling wheat futures ended unchanged at EUR134.25/tonne and London March feed wheat futures ending down GBP1.15 at GBP110.10/tonne.
Heavy snow across large parts of the UK kept some traders away from their desks (especially the southern softies), northern traders largely dragged themselves into the office only to find that their southern counterparts were out sledging, or pursuing other feminine-type activities.
Perversely the pound was sharply lower against the dollar, but London futures declined anyway. It might be worth noting that the pound was relatively strong when London wheat peaked in early June last year.
Fund money will be back in to support EU and US wheat any day now is what the wires keep telling us. They don't inform us what will happen if this doesn't materialise.
US wheat in Nebraska and Kansas may be damaged by “extreme cold” according to AccuWeather. Kansas is the largest wheat producing state in the US and snow cover there is rather light according to reports. Afternoon highs Thursday and Friday will be in the mid teens F causing a 72 hour stretch of bitter cold, says Gail Martell of Martell Crop Projections.
The USDA will report on US wheat winter plantings on Jan 12th, a fall of 2 million acres plus is expected.
Heavy snow across large parts of the UK kept some traders away from their desks (especially the southern softies), northern traders largely dragged themselves into the office only to find that their southern counterparts were out sledging, or pursuing other feminine-type activities.
Perversely the pound was sharply lower against the dollar, but London futures declined anyway. It might be worth noting that the pound was relatively strong when London wheat peaked in early June last year.
Fund money will be back in to support EU and US wheat any day now is what the wires keep telling us. They don't inform us what will happen if this doesn't materialise.
US wheat in Nebraska and Kansas may be damaged by “extreme cold” according to AccuWeather. Kansas is the largest wheat producing state in the US and snow cover there is rather light according to reports. Afternoon highs Thursday and Friday will be in the mid teens F causing a 72 hour stretch of bitter cold, says Gail Martell of Martell Crop Projections.
The USDA will report on US wheat winter plantings on Jan 12th, a fall of 2 million acres plus is expected.