EU Wheat Ends Lower Again

EU wheat futures closed lower again Wednesday with January Paris milling wheat down EUR1.00 at EUR127.75/tonne, and London May feed wheat down GBP0.65 at GBP110.25/tonne.

The trade seems to have shut up shop until January, although futures are drifting lower.

Reports suggest that the Holy Grail Ensus refinery took in some 5,000 MT of wheat on Tuesday, and that this will somehow save the world, although I don't quite see it myself.

I'm naively looking at the market reports from Dow Jones tonight as if they will provide me with some inspiration. Sadly, but not surprisingly, they don't. You might as well ask a snake how to peel a banana.

I strongly suspect that come January we will be looking for buyers, and that Ensus apart, they may be few and far between.