EU Wheat Rebounds
EU wheat futures rebounded from the last couple of days losses Thursday with Paris November milling wheat closing up EUR1.50 at EUR158.75/tonne, and London November feed wheat ending up GBP1.75 at GBP130.25/tonne.
Firmer crude oil and strength in the US grains helped wheat stage a come-back from declines earlier in the week.
Yields in eastern Europe are under threat from a combination of lower plantings, drought and reduced inputs.
There is also some suggestion that, faced with a lack of credit, many farmers have planted inferior home-sourced seed in the autumn which will also undoubtedly lead to decreases in output this year.
The large premium for November futures over the nears continues to discourage farmers from spot selling.
Firmer crude oil and strength in the US grains helped wheat stage a come-back from declines earlier in the week.
Yields in eastern Europe are under threat from a combination of lower plantings, drought and reduced inputs.
There is also some suggestion that, faced with a lack of credit, many farmers have planted inferior home-sourced seed in the autumn which will also undoubtedly lead to decreases in output this year.
The large premium for November futures over the nears continues to discourage farmers from spot selling.
