EU Wheat Futures At Lowest Since June '07

EU wheat futures extended their decline with nearby's posting their lowest close for a spot month since June 2007.

Nov London feed wheat closed £2 lower at £105.75/tonne, and Paris Nov milling wheat ending EUR1.75 lower at EUR168/tonne.

"The financial crisis is not over and we can fear liquidations of entire positions on commodities," said one trader.

A sharply weaker dollar also did little to help EU wheat and it's failing competitiveness on world markets.

"We have a big crop and we need to export much of it," said one dealer.