EU Wheat Closing Comments
EU wheat closed mixed, but mostly a little higher Monday, as futures repositioned themselves ahead of Tuesday's USDA stocks and global production report.
London March wheat closed just GBP0.05 higher at GBP97.50/tonne, and March Paris wheat ended EUR1 higher at EUR126/tonne. It was hardly a stunning key reversal.
EU futures tracked Chicago wheat higher, ahead of tomorrow's USDA report, which may show 2009/10 US ending stocks declining a little, according to trade analysts.
Trying to second guess what the USDA will say is a bit like attempting to fathom out the mind of a woman however. Let's just be thankful that the USDA don't have to reverse a car into a parking space as well tomorrow. If they did we'd be there all day.
Indeed, with the weather in Washington taking a turn for the worst today, it's entirely possible that the USDA won't even bother issuing their WASDE and stock report at all tomorrow.
Does my bum look big in this?
London March wheat closed just GBP0.05 higher at GBP97.50/tonne, and March Paris wheat ended EUR1 higher at EUR126/tonne. It was hardly a stunning key reversal.
EU futures tracked Chicago wheat higher, ahead of tomorrow's USDA report, which may show 2009/10 US ending stocks declining a little, according to trade analysts.
Trying to second guess what the USDA will say is a bit like attempting to fathom out the mind of a woman however. Let's just be thankful that the USDA don't have to reverse a car into a parking space as well tomorrow. If they did we'd be there all day.
Indeed, with the weather in Washington taking a turn for the worst today, it's entirely possible that the USDA won't even bother issuing their WASDE and stock report at all tomorrow.
Does my bum look big in this?