EU Wheat Ends Mixed

EU wheat futures closed mixed, with profit-taking cutting Paris prices, whilst a weak pound supported London levels.

November Paris milling wheat closed down EUR1.50 at EUR146.25/tonne, whilst November London feed wheat ended up GBP0.75 at GBP123.00/tonne.

EU crops are looking generally patchy. Certainly in my part of the UK winter wheat looks rather poor as rainfall during the past three months has been well behind normal.

Indications are that this situation has been replicated across much of France and Germany.

Russian spring wheat plantings are well behind schedule, this time due to excessive wet weather, whilst some reports emanating from India indicate that their winter wheat crop has suffered due to weather. With elections in India imminent, the government are remaining tight-lipped about potential production and quality losses.