EU wheat edges higher in cautious trade
EU wheat futures are modestly higher Wednesday morning, in line with Chicago, traders said.
European prices have moved only slightly this week as market operators have adopted a wait-and-see approach in the light of the turmoil on financial markets.
"(European) markets are holding back, with very cautious positions being taken, in view of the international financial crisis whose impact is hard to gauge," French analyst Agritel said in its daily note.
"In the short term, commodities markets are going to remain very closely tied to oil and the dollar," it added.
At 12 noon BST London November feed wheat was GBP0.75 higher at GBP107/tonne. November Paris milling wheat was up EUR2.25 at EUR173.75/tonne.
European prices have moved only slightly this week as market operators have adopted a wait-and-see approach in the light of the turmoil on financial markets.
"(European) markets are holding back, with very cautious positions being taken, in view of the international financial crisis whose impact is hard to gauge," French analyst Agritel said in its daily note.
"In the short term, commodities markets are going to remain very closely tied to oil and the dollar," it added.
At 12 noon BST London November feed wheat was GBP0.75 higher at GBP107/tonne. November Paris milling wheat was up EUR2.25 at EUR173.75/tonne.
