London wheat futures lowest since Nov slump

In the London feed wheat market Tuesday old crop July fell as low as GBP153.50/ton, its lowest point traded in the second-month chart since late November. July ended down GBP3 at EUR154/ton with 181 lots moved.

Volume remained lethargic following a recent string of holidays in various
European Union nations.

"It's a weather market and the new crop looks great," said a broker.

On the political front, the European Commission said it would likely extend current zero import tariffs for cereals into the new marketing year.

May LIFFE wheat chart: here