London Wheat Continues Decline

London wheat futures continue to slide Thursday with November down £0.55 at £107.20/tonne.

Nov Paris milling wheat is EUR1 firmer at EUR170.75/tonne.

Lower quality wheat is abundant all over Europe and the Baltic. The only surprise thrown up by yesterday's wheat tender from Egypt was that Ukraine and Russia were able to supply the quality Egypt was looking for.

The UK is going to have to search long and hard to find reasonable export interest for it's surplus, and will likely carry plenty of the recent harvest into 2009/10.