EU Wheat Ends Higher

November Paris milling wheat ended up EUR2.5 at EUR138.00/tonne, and London November feed wheat closed up GBP1.25 at GBP104.25/tonne.

It wasn't pretty but futures followed America higher. A sharply higher US market, although that was largely led by a weaker dollar, dragged EU prices higher from the off.

US weather conditions seem largely ideal for promising crop development, bur wet weather in the EU is dragging crop development behind, particulatly for milling varieties and hampering harvestring efforts.

French wheat got a significant look-in last week when Egypt bought a quarter of a million tonnes, overlooking Russian wheat at the same time.

That's three out of the last four Egyptian tenders that have seen French wheat get booked, when previously it was all Russian business.