EU Wheat Futures End Generally Slightly Lower

EU wheat futures mostly slid a little Tuesday with January Paris milling wheat futures falling EUR0.50, at EUR129.50/tonne, and London May feed wheat dropping GBP0.05, at GBP110.20/tonne.

It was another desperately dull day with only 114 lots trading in London, clearly everybody has shut up shop for Christmas.

The UK exported 144,211 MT of wheat in October, bringing YTD exports to 582,380 MT, well below the 1.18 MMT at this point in 2008/09. Spain remains our largest buyer taking 301,676 MT so far this marketing year.

Those figures show just how far behind last year's pace we are. Hurry up Ensus is all I can say to that.

There is no global shortage of wheat, and demand is so-so at best, in addition competition is fierce. Russia seemingly have any amount available, of any quality you want, all priced to sell.

Unless, or until, the Black Sea run out or get frozen out the rest of us will end up fighting for the scraps.