EU Wheat Ends Modestly Higher
EU wheat futures closed modestly higher Monday with Paris January milling wheat closing up EUR0.75 at EUR139.75/tonne and London January feed wheat closing up GBP1 at GBP97/tonne.
Once again there was little fresh news, but a weak GBP and EUR was seen as supportive for EU futures.
The HGCA said that the protein of UK wheat this season was the lowest for 10 years.
DEFRA say that this season's UK wheat surplus is almost 4mmt. That is an astonishing 160% more than last season and highlights the importance of finding new export homes.
With Spain buying much more Ukraine wheat this season than ever before, we need all the help we can get from currency to make UK wheat competitive on the export front, or risk carrying over an unprecedented amount of wheat into next season's crop.
Once again there was little fresh news, but a weak GBP and EUR was seen as supportive for EU futures.
The HGCA said that the protein of UK wheat this season was the lowest for 10 years.
DEFRA say that this season's UK wheat surplus is almost 4mmt. That is an astonishing 160% more than last season and highlights the importance of finding new export homes.
With Spain buying much more Ukraine wheat this season than ever before, we need all the help we can get from currency to make UK wheat competitive on the export front, or risk carrying over an unprecedented amount of wheat into next season's crop.
