EU Wheat Ends Mixed
EU wheat futures closed mixed Tuesday with Paris November milling wheat unchanged at EUR142.75/tonne and London November feed wheat closing GBP0.25 higher at GBP89.25/tonne.
The USDA trimmed 2008 soybean production and ending stocks somewhat, but left corn output & stocks relatively unchanged, in a revision to its October report.
The USDA revised October soybean S&D numbers dropping planted acres by 1.1m acres and harvested acres by 1.1m acres, yield was left unchanged. Production was cut from 2.983 billion bushels in the Oct 10th estimate to 2.938 billion. Ending stocks were also revised lower from 220 to 205m bushels.
The USDA revised October corn S&D numbers dropping planted acres by 01.0m acres and harvested acres also by 1.0m acres, yield was also slightly reduced resulting in a drop in production from 12.2 billion bushels in the Oct 10th estimate to 12.033 billion. Ending stocks were also revised lower at 1.088 billion from 1.154 billion.
EU stock markets were also mildly supportive. After the close of Euronext the Dow Jones Index manged to end with gains of almost 11%, which may add some support in the morning, traders said.
The USDA trimmed 2008 soybean production and ending stocks somewhat, but left corn output & stocks relatively unchanged, in a revision to its October report.
The USDA revised October soybean S&D numbers dropping planted acres by 1.1m acres and harvested acres by 1.1m acres, yield was left unchanged. Production was cut from 2.983 billion bushels in the Oct 10th estimate to 2.938 billion. Ending stocks were also revised lower from 220 to 205m bushels.
The USDA revised October corn S&D numbers dropping planted acres by 01.0m acres and harvested acres also by 1.0m acres, yield was also slightly reduced resulting in a drop in production from 12.2 billion bushels in the Oct 10th estimate to 12.033 billion. Ending stocks were also revised lower at 1.088 billion from 1.154 billion.
EU stock markets were also mildly supportive. After the close of Euronext the Dow Jones Index manged to end with gains of almost 11%, which may add some support in the morning, traders said.
