EU Wheat Ends Mixed

EU wheat futures closed mixed Wednesday night, going into the US Thanksgiving holiday Thursday, and will likely remain quiet for the rest of the week as the US influence dissipates traders said.

"The Septics are packing up for the holiday and we won't see most of them now until Monday," said one Hull-based trader.

Egypt are tendering tomorrow for various wheat parcels and it will be interesting to see which countries get the nod, in light of the announcement earlier today that Ukraine wheat has too many quality issues to be welcome for the remainder of the season.

Talk that world wheat plantings may, in reality, be substantially lower than official estimates for the 2009 crop. And ideas that farmers may hold back on expensive fertiliser application, together with weather uncertainties, are leading to one or two Bravehearts suggesting that big wheat prices are not necessarily a thing of the past.

Paris March milling wheat closed +EUR0.75 at EUR136.25/tonne. London January feed wheat fell GBP0.15/tonne to GBP95/tonne.