London wheat futures continue slide, July down STG5 in two days

London wheat futures are continuing their recent demise with old-crop months taking the biggest hits traders say. July LIFFE feed wheat fell £2/tonne yesterday and was a further £3/tonne lower at 12 noon BST.

Recent weather has been beneficial for crop development and Friday's USDA report citing a 17% increase in EU-27 wheat production in 2008 is weighing on the market, said a UK trader.

Adds the July future has lost £54/tonne in the last two months.

July LIFFE Wheat: