EU grains/oilseed follow CBOT lower
EU grains are mostly lower this morning following the lead from eCBOT futures which have closed sharply down across the board.
London-based LIFFE feed wheat for November is GBP2.75 lower at GBP147/ton. Paris-based November milling wheat is EUR5.50 lower at EUR198/ton.
November corn is down EUR6 at 201/ton and November rapeseed is down EUR3.50 to EUR465/ton.
"Wheat has been held up by (Chicago) corn and soybeans and it's due a drop," said a London-based broker.
The French winter barley harvest has begun according to French traders. "People are satisfied with yield and quality," said a France-based broker. The outlook for the wheat harvest in France continues to be positive, added the broker.
Last week Egypt's state-owned General Authority for Supply Commodities purchased 150,000 metric tons of Russian, Ukraine and Canadian soft wheat.
This is viewed as a further indication that European prices are not currently competitive on the export market due to aggressive pricing from the Black Sea region where the harvest is in full-swing, a trader said.
London-based LIFFE feed wheat for November is GBP2.75 lower at GBP147/ton. Paris-based November milling wheat is EUR5.50 lower at EUR198/ton.
November corn is down EUR6 at 201/ton and November rapeseed is down EUR3.50 to EUR465/ton.
"Wheat has been held up by (Chicago) corn and soybeans and it's due a drop," said a London-based broker.
The French winter barley harvest has begun according to French traders. "People are satisfied with yield and quality," said a France-based broker. The outlook for the wheat harvest in France continues to be positive, added the broker.
Last week Egypt's state-owned General Authority for Supply Commodities purchased 150,000 metric tons of Russian, Ukraine and Canadian soft wheat.
This is viewed as a further indication that European prices are not currently competitive on the export market due to aggressive pricing from the Black Sea region where the harvest is in full-swing, a trader said.
