Liffe/euronext futures slide

Grain futures on Liffe/euronext continued to drift lower Thursday as concerns over a U.S. rescue plan for the banking sector and the direction of the economy kept investors on tenterhooks, traders said.

European wheat futures followed the trend, with additional pressure from a rise in the euro that will make West European wheat less competitive in Tunisia and Egypt's wheat import tenders, whose results were expected in the afternoon.

U.S. crude oil fell below $105 a barrel on Thursday on lingering uncertainty about the proposed U.S. bank bailout plan and signs of slumping demand in top consumer nations.

Wheat prices were also pressured by profit-taking after a mini-rally this week on dry weather concerns in top exporters Argentina and Australia.

At 13.30BST Nov London feed wheat was £0.45 lower at £106.10/tonne, and Nov Paris milling wheat EUR2.75 lower at EUR168.75/tonne.

Paris rapeseed futures were also lower, down between EUR1.50-3.25 and Paris corn down EUR2.25-3.50/tonne.