EU Wheat Mixed On Currency

EU wheat futures closed mixed, with London prices steadier as the pound fell to another all-time low against the euro. Paris prices closed flat.

Paris March milling wheat closed unchanged at EUR129.50/tonne. London March feed wheat ended up GBP2.20 at GBP101.20/tonne.

London managed a nine-week high as sterling crashed to yet another new low against the euro. Suddenly 2.75% interest looks like a very good rate.

Strategie Grains and others are starting to suggest that 2009 plantings might not produce such high output as many have been suggesting.

We shall see.

Keep your eye on Burton's window again.