EU Wheat Futures End Lower As America Declines

Early gains by EU wheat futures were eroded late in the session as America came in sharply lower. Paris March milling wheat traded down EUR2.50 at EUR148.50/tonne, whilst London May feed wheat ended down GBP0.50 at GBP118/tonne.

UK futures had been higher in early trade with sterling down around 10 cents against the dollar on the back of poor domestic banking data.

However, CBOT wheat came in sharply lower which eroded early gains sending wheat into negative territory at the close.

Despite all the furore over currency UK wheat still needs to find some very significant export homes, and this simply isn't happening.