Liffe Futures Down Again
Liffe/Euronext grains futures are lower again Wednesday with Paris November milling wheat down EUR4 at EUR150.75/tonne, and London's November feed wheat down £1.85 at GBP92/tonne.
Liffe's Paris-based November corn is EUR2.50 lower at EUR128.50/tonne, and November rapeseed is down EUR3.75 at EUR330/tonne.
"Fundamentals are hardly getting a look in," commented one trader, referring to the global financial meltdown as weaker outside markets continue to drag grains lower.
Egypt yesterday passed on EU wheat in favour of Russian and US grain, despite reports from Russia that this year's harvest is producing 85% feed grade wheats.
Certainly this is bearish for UK wheat as Ukraine also has a disproportionately high quantity of low-grade wheat this season.
Sub-£90/tonne here we come it seems.
Liffe's Paris-based November corn is EUR2.50 lower at EUR128.50/tonne, and November rapeseed is down EUR3.75 at EUR330/tonne.
"Fundamentals are hardly getting a look in," commented one trader, referring to the global financial meltdown as weaker outside markets continue to drag grains lower.
Egypt yesterday passed on EU wheat in favour of Russian and US grain, despite reports from Russia that this year's harvest is producing 85% feed grade wheats.
Certainly this is bearish for UK wheat as Ukraine also has a disproportionately high quantity of low-grade wheat this season.
Sub-£90/tonne here we come it seems.
