EU Wheat Ends Near Unchanged

EU wheat futures closed with little change Thursday. Paris May milling wheat closed down EUR0.50 at EUR137.75/tonne, and London May feed wheat ended up GBP0.50 at GBP112/tonne.

The dollar weakened dramatically after the Fed announced throwing $1.2 trillion dollars more at mortgage and treasury buy-backs. This boosted ideas that US wheat would improve its competitive edge on the export front.

Russia continues to devour almost all the export business going, leaving the UK, the rest of the EU and the US to argue over the scraps.

Drought conditions on the US Plains still threaten US wheat.