EU Wheat Falls To 14 Month Lows

EU wheat futures fell to 14-month lows Tuesday with Paris November milling wheat dropping to a low of EUR166.50/tonne before closing at EUR168.75/tonne.

London November feed wheat dropped GBP2.50 to end at GBP111.75/tonne.

A general sell-off in commodities contributed to the weaker tone traders said.

Feed wheat is particularly under pressure as there are more than ample supplies on the market from the Black Sea region and UK wheat quality continues to deteriorate.

In the UK rains continue to thwart the remaining wheat harvest with little or no progress was made over the past six days, with severe rain Friday and more rain Monday night, the NFU said. The rain is also delaying rapeseed plantings for next season's crop they said.

Paris-based November corn dropped EUR4.25 to end at EUR153.25/tonne. November rapeseed tumbled EUR8.25 to end at EUR364.25/tonne.