EU Wheat: Rallies Late With CBOT

EU wheat futures closed firmer, rallying late to or near daily highs as CBOT surged.

November Paris milling wheat ended +EUR8.50 at EUR196.50/tonne and London November feed wheat closed +£3.75 at GBP126.00/tonne.

Rains contine to present UK farmers with harvesting problems and quality is becoming a serious issue.

That is likely to prevent feed wheat from rallying too much relative to milling grade wheats.

On the feed wheat export front strong competition from Eastern Europe & the Black Sea will oontinue to compete with UK wheat.