EU Wheat Futures Continue Decline
EU wheat futures are down again this morning with November London feed wheat GBP1 lower at GBP120/tonne and November Paris milling wheat EUR1 easier at EUR186.25/tonne.
Downwards pressure continues to come from the decline of wheat in Chicago and an improved outlook for Australian and Argentine wheat due to rain.
UK weather has finally improved which will help harvesting and early indications are the quality has held up reasonably well. Yields are said to be very impressive.
"Everywhere you look plantings have been at or near record-large, Mother Nature has largely been kind and there are some massive crops out there," one trader said.
Downwards pressure continues to come from the decline of wheat in Chicago and an improved outlook for Australian and Argentine wheat due to rain.
UK weather has finally improved which will help harvesting and early indications are the quality has held up reasonably well. Yields are said to be very impressive.
"Everywhere you look plantings have been at or near record-large, Mother Nature has largely been kind and there are some massive crops out there," one trader said.
