EU Wheat Ends Flat/Higher
EU wheat futures closed flat to mostly higher Wednesday supported by rising crude oil and stock markets.
Paris November milling wheat finished up EUR1.25 at EUR149.25/tonne, and London November feed wheat closed flat at GBP124.00/tonne.
There is currently very little to get excited about with farmers remaining reluctant sellers ahead of a mixed outlook for new crop.
Still old crop stocks are plentiful, which will likely cap any rises from progressing too far unless weather problems materialise into a serious crop scare.
Argentina is about to start planting its wheat crop in the face of a year long drought, with output now seen at 11 MMT, up on 2008 but significantly lower than original projections.
Paris November milling wheat finished up EUR1.25 at EUR149.25/tonne, and London November feed wheat closed flat at GBP124.00/tonne.
There is currently very little to get excited about with farmers remaining reluctant sellers ahead of a mixed outlook for new crop.
Still old crop stocks are plentiful, which will likely cap any rises from progressing too far unless weather problems materialise into a serious crop scare.
Argentina is about to start planting its wheat crop in the face of a year long drought, with output now seen at 11 MMT, up on 2008 but significantly lower than original projections.
