EU Wheat Ends Week On Quiet Note
EU wheat futures closed with little change Friday in a subdued low-volume session.
Paris May milling wheat closed flat at EUR137.75/tonne, London May feed wheat ended up GBP0.50 at GBP112.50/tonne.
A sharply weaker US dollar, following the announcement of a further $1.2 trillion of "quantative easing" will do little to help EU wheat become more competitive on the export front.
Subdued demand and high stocks seem set to cap potential gains for the time being.
Coceral estimated EU soft wheat production in 2009 down 9% to 128.3 million metric tonnes, from 140.96mmt a year ago. Corn and barley production are both seen down 7 percent.
Paris May milling wheat closed flat at EUR137.75/tonne, London May feed wheat ended up GBP0.50 at GBP112.50/tonne.
A sharply weaker US dollar, following the announcement of a further $1.2 trillion of "quantative easing" will do little to help EU wheat become more competitive on the export front.
Subdued demand and high stocks seem set to cap potential gains for the time being.
Coceral estimated EU soft wheat production in 2009 down 9% to 128.3 million metric tonnes, from 140.96mmt a year ago. Corn and barley production are both seen down 7 percent.
