EU Wheat Close

EU grains extended declines from Friday with Nov London wheat ending GBP3.20 lower at GBP149.05/tonne and Nov Paris wheat closing down EUR4.00 at EUR199.25/tonne.

That was the first London close sub-GBP150/tonne since late August and the first Paris close beneath EUR200/tonne since the end of July.

Chicago corn closed limit down Friday after the USDA released a "questionable" stocks report pegging US Sept 1st corn inventories at much higher levels than anticipated.

US wheat and soybeans were also sharply lower Friday, which carried through into early trade today, which put further pressure on EU grains.

Egypt bought a mixture of French and Canadian wheat in a weekend tender, passing on US origin, which provided some support for Paris wheat.

Bargain hunting, and an element of rebound in the Chicago markets this afternoon dragged EU grains off their lows by the close.

Paris corn finished the day with losses of around EUR4/tonne, with Paris rapeseed generally EUR2.50-3.50/tonne easier.