EU Wheat Ends Mixed

In a relatively quiet session November Paris milling wheat closed down EUR0.25 at EUR121.25/tonne, whilst London November feed wheat closed unchanged at GBP92.25/tonne.

The BoE left UK interest rates on hold, which was widely expected, somewhat surprisingly sterling moved up on the back of that to $1.65 against theUS dollar.

Farmers are very reluctant to sell at current levels, which are well below replacement, although consumers are also reticent to commit to tonnage at these prices.

Japan bought 133,000 MT of wheat in it's usual routine weekly tender, 70,000 MT was US origin.

FranceAgriMer increased it's estimate for French soft wheat production to 37.5 MMT.