EU Wheat Closing Comments
EU wheat futures closed mostly higher in quiet pre-holiday trade Tuesday. Paris March milling wheat closed EUR0.50 higher at EUR137.50, London May feed wheat finished up GBP3 at GBP115/tonne.
There was nothing much doing in early trade, with many market participants still away on holiday. However, with the pound plumbing to fresh new euro lows as the day wore on UK wheat found some buying interest.
It has to be said that it did look as if today was a kind of odd session, with nearby wheat trading up GBP5.50 at one stage, albeit for one lot. Signs that someone was maybe trying to manipulate the market on a quiet day?
Jan feed wheat closed at GBP108.25, around GBP20/tonne higher on recent contract lows, set only a few weeks ago (see chart below):
There was nothing much doing in early trade, with many market participants still away on holiday. However, with the pound plumbing to fresh new euro lows as the day wore on UK wheat found some buying interest.
It has to be said that it did look as if today was a kind of odd session, with nearby wheat trading up GBP5.50 at one stage, albeit for one lot. Signs that someone was maybe trying to manipulate the market on a quiet day?
Jan feed wheat closed at GBP108.25, around GBP20/tonne higher on recent contract lows, set only a few weeks ago (see chart below):
