EU Wheat Ends Higher As Sellers Withdraw
EU wheat futures closed higher Wednesday as sellers withdrew from the market.
Paris November milling wheat ended up EUR1 at EUR144.50/tonne, and London November feed wheat closed up GBP1.50 at GBP113.50/tonne.
Trading was light as farmers busied themselves with the harvest, standing away from selling at current levels.
News from Russia suggests that all in not well with harvesting there, and that final grain production could be down in excess of 20% this year.
Meanwhile, Copa-Cogeca say that the upcoming EU-27 cereals harvest will produce around 28 MMT less than last year at 281.32 MMT.
EU-27 cereals output could fall further in 2010/11, they warn, as low harvest prices potentially lead to further reductions in planted area.
Paris November milling wheat ended up EUR1 at EUR144.50/tonne, and London November feed wheat closed up GBP1.50 at GBP113.50/tonne.
Trading was light as farmers busied themselves with the harvest, standing away from selling at current levels.
News from Russia suggests that all in not well with harvesting there, and that final grain production could be down in excess of 20% this year.
Meanwhile, Copa-Cogeca say that the upcoming EU-27 cereals harvest will produce around 28 MMT less than last year at 281.32 MMT.
EU-27 cereals output could fall further in 2010/11, they warn, as low harvest prices potentially lead to further reductions in planted area.
