EU Wheat Ends Little Changed

EU wheat futures closed with little change Thursday, Paris November milling wheat ending down EUR0.50 at EUR141.50/tonne, and London November feed wheat closing flat at GBP112.75/tonne.

Egypt bought 60,000 MT of French wheat today, which buoyed the market a little, exactly why they passed on Russian and other Black Sea origin grain is not immediately clear, but pass they did.

Still, new crop is just around the corner so it is difficult to envisage a significant rally just at the moment.

In the US harvesting of winter wheat is also underway, with cutting extending as far north as southern Kansas, which is also depressing the US market although early yield reports are less than encouraging.