EU Wheat, Slip Sliding Away

"You know the nearer your destination, the more you're slip sliding away."

Or something like that anyway. It seems like the wheat market is continuing to slip slide away, until we reach our destination. How low will that destination be? For London wheat I'd have to hazard a guess that starts with an eight.

Today, Paris November milling wheat closed down EUR0.25 at EUR128.50/tonne, whilst London November feed wheat ended down GBP0.40 at GBP96.25/tonne.

The bears have it at the moment, we are in the middle of harvest, yields are looking pretty good in France and Germany, and end-users seem to have it all their own way.

From the farming point of view there are only a few weapons left:

Don't plant anything for 2010, pretty radical I know, but if the cost of production really is below the selling price then why bother??

Plant it, hope for the best, but don't sell it. Another pretty radical option.

Erm, I'm running out of them now. Don't plant it BUT sell it?? This one is probably only for the very stupid, but could be worth a go.