UK trades/markets: Pants

With LIFFE wheat running around £4 lower this morning its all gone a bit flat.

On the wheatfeed front spot pellets have been trading recently in the region £118/125 depending on location, with traders juggling their positions around on lack of production at Icklingham.

The word on the streets this morning however is that Icklingham is back on stream for next week, so this could exert some pressure on the nearby market.

Jun/Sep ex South East locations traded at £115. Yesterday's buyers turning into sellers!