EU Wheat Closes Lower
Paris March milling wheat closed down EUR3.75 at EUR144/tonne, and London May feed wheat closed down GBP3 at GBP113.50/tonne Tuesday dragged down by sharply lower outside markets.
Weaker crude oil and falling equities weighed on LIFFE markets from the outset with the FTSE and French CAC falling around 2.5-3.0% led by renewed financial concerns.
Export interest remains scant with Egypt buying Russian wheat last week, and a Syrian tender for 200,000mt this week likely to go the same way.
Drought problems in China and the US are being pushed into the background with attention focusing on near-term financial difficulties.
Weaker crude oil and falling equities weighed on LIFFE markets from the outset with the FTSE and French CAC falling around 2.5-3.0% led by renewed financial concerns.
Export interest remains scant with Egypt buying Russian wheat last week, and a Syrian tender for 200,000mt this week likely to go the same way.
Drought problems in China and the US are being pushed into the background with attention focusing on near-term financial difficulties.
