EU Wheat End Mixed
EU wheat futures closed mixed with March Paris milling wheat closing up EUR2.50 at EUR148.75/tonne, and London May feed wheat closing down GBP0.25 at GBP117.50/tonne.
There wasn't a great deal of fresh news today, it was mostly about currency movements. The BoE dropped UK interest rates by a half point, whilst the ECB left rates unchanged.
Both moves were widely expected, yet the pound managed to post gains against both the dollar and euro after the announcement was made.
Consequently, a firmer pound equals a lower wheat price, so London wheat fell to close in negative territory.
Egypt bought a decent quantity of French wheat this week, and wit the euro depreciating further, that helped support Paris prices.
There wasn't a great deal of fresh news today, it was mostly about currency movements. The BoE dropped UK interest rates by a half point, whilst the ECB left rates unchanged.
Both moves were widely expected, yet the pound managed to post gains against both the dollar and euro after the announcement was made.
Consequently, a firmer pound equals a lower wheat price, so London wheat fell to close in negative territory.
Egypt bought a decent quantity of French wheat this week, and wit the euro depreciating further, that helped support Paris prices.
