EU Wheat Rises On Outside Influences

EU wheat closed higher Tuesday with November Paris milling wheat ending up EUR1.50, or 1%, at EUR156.00/tonne, and November London feed wheat closing up GBP1.00 at GBP129.00/tonne.

A weak US dollar capped gains but a lack of farmer selling and concern over Egypt having quality problems with Russian wheat was enough to send the market higher.

Spring wheat plantings in the US continue to lag at 50% complete compared to 90% normally at this time of year. The major US-producing state of North Dakota has just 31% of the crop in the ground, compared to 87% normally

A GBP10/tonne carry between July and November UK wheat futures continues to encourage domestic farmers to carry wheat rather that sell.