EU wheat closes around unchanged
EU wheat futures closed around unchanged levels Wednesday as uncertainty surrounds world financial markets, keeping traders reluctant to commit one way or another.
Paris November milling wheat closed flat at EUR171.50/tonne and London November feed wheat closed GBP0.30 higher at GBP106.55/tonne.
"I think the majority of people are on the sidelines right now because no one knows where these markets are going or might go right now," said one dealer.
Glencore's confirmed sale of 100-200,000MT Russian wheat seemed to weigh on the US market as traditionally they would have expected to get that business a trader said.
US wheat prices had been climbing the last few sessions on concerns about dry weather in portions of Australia and Argentina's wheat growing areas, leaving the wheat market vulnerable to a profit-taking setback in continued volatile dealings.
Paris November milling wheat closed flat at EUR171.50/tonne and London November feed wheat closed GBP0.30 higher at GBP106.55/tonne.
"I think the majority of people are on the sidelines right now because no one knows where these markets are going or might go right now," said one dealer.
Glencore's confirmed sale of 100-200,000MT Russian wheat seemed to weigh on the US market as traditionally they would have expected to get that business a trader said.
US wheat prices had been climbing the last few sessions on concerns about dry weather in portions of Australia and Argentina's wheat growing areas, leaving the wheat market vulnerable to a profit-taking setback in continued volatile dealings.
