EU Wheat Ends Mixed
EU wheat futures closed another dull session mixed with March Paris milling wheat ending down EUR2.25 at EUR148.75/tonne, whilst London March feed wheat was up GBP0.50 at GBP117/tonne.
London wheat benefited from a weak sterling ahead of the BoE's expected 0.5% cut in UK interest rates Thursday. Volume was low however as heavy snow kept many traders, particularly in the South East, away from work.
Egypt bought some French wheat Friday which also added a bit of support.
Argentina remains a constant worry, with fairly scattered rainfall over the weekend unlikely to have done much to alleviate extreme drought conditions.
Paris wheat was modestly lower throughout the day on light commercial selling.
Widespread heavy snowfall across the EU is unlikely to have caused much damage to winter wheat, indeed it may have helped protect crops in some countries from winter kill.
London wheat benefited from a weak sterling ahead of the BoE's expected 0.5% cut in UK interest rates Thursday. Volume was low however as heavy snow kept many traders, particularly in the South East, away from work.
Egypt bought some French wheat Friday which also added a bit of support.
Argentina remains a constant worry, with fairly scattered rainfall over the weekend unlikely to have done much to alleviate extreme drought conditions.
Paris wheat was modestly lower throughout the day on light commercial selling.
Widespread heavy snowfall across the EU is unlikely to have caused much damage to winter wheat, indeed it may have helped protect crops in some countries from winter kill.
