EU Wheat Closes Higher
May Paris milling wheat ended up EUR0.75 at EUR140.00/tonne Wednesday, whilst November London feed wheat closed up GBP1.50 at GBP124.00/tonne.
Russia continues to mop up most export orders kicking around, snapping up a Syrian wheat tender for 200,000mt yesterday after also taking a 240,000mt order from Egypt across the weekend. Algeria are said to be in the market for 300,000mt, I wonder who is going to pick that one up?
Crude oil was up, reaching the dizzy heights of $42/barrel, whilst the dollar was also a wee bit firmer against both the euro and sterling, helping EU wheat move higher.
Anyone would think that production was going to be lower in 2009. What, it is? Blimey!
Russia continues to mop up most export orders kicking around, snapping up a Syrian wheat tender for 200,000mt yesterday after also taking a 240,000mt order from Egypt across the weekend. Algeria are said to be in the market for 300,000mt, I wonder who is going to pick that one up?
Crude oil was up, reaching the dizzy heights of $42/barrel, whilst the dollar was also a wee bit firmer against both the euro and sterling, helping EU wheat move higher.
Anyone would think that production was going to be lower in 2009. What, it is? Blimey!
