EU Wheat Ends Mixed
EU wheat futures closed mixed Friday with Paris milling wheat higher after Egypt bought 120,000mt of French wheat. London was lower as the pound continued to firm against the dollar and euro.
March Paris milling wheat ended up EUR1.50 at EUR151.00/tonne, whilst London May feed wheat closed down GBP0.75 at GBP119.50/tonne.
An uncertain week lies ahead for Argentina, with conflicting reports of how much and how widespread rains there will be.
Talk still persists that nationally around 40% of the corn crop there could be lost to drought, with losses even more severe in some states.
Whilst Egypt's tender was a welcome export order for EU wheat there is still plenty more to shift, and as ever competition from Black Sea origin wheat remains fierce.
March Paris milling wheat ended up EUR1.50 at EUR151.00/tonne, whilst London May feed wheat closed down GBP0.75 at GBP119.50/tonne.
An uncertain week lies ahead for Argentina, with conflicting reports of how much and how widespread rains there will be.
Talk still persists that nationally around 40% of the corn crop there could be lost to drought, with losses even more severe in some states.
Whilst Egypt's tender was a welcome export order for EU wheat there is still plenty more to shift, and as ever competition from Black Sea origin wheat remains fierce.
