EU Wheat Closes Lower Following CBOT
EU wheat futures closed lower Wednesday following a weaker CBOT market.
Paris November fell EUR3 to end at EUR188.75/tonne and London-based November feed wheat dropped GBP1.90 to close at GBP122.10/tonne.
Dollar weakness weighed on prices throughout the day as did an underlying downtrend in CBOT wheat futures.
A more favourable weather outlook in the UK and northern Europe also weighed on prices traders said.
Anecdotal evidence in the UK suggests that despite a very wet August wheat quality and yields haven't been as badly affected as may have been anticipated traders added.
A better forecast for the next few days should also help harvest progress.
Paris November fell EUR3 to end at EUR188.75/tonne and London-based November feed wheat dropped GBP1.90 to close at GBP122.10/tonne.
Dollar weakness weighed on prices throughout the day as did an underlying downtrend in CBOT wheat futures.
A more favourable weather outlook in the UK and northern Europe also weighed on prices traders said.
Anecdotal evidence in the UK suggests that despite a very wet August wheat quality and yields haven't been as badly affected as may have been anticipated traders added.
A better forecast for the next few days should also help harvest progress.
