EU Wheat Closing Comments
EU wheat futures closed generally lower Friday with March London feed wheat ending down GBP1.40 at GBP97.45.tonne, and Paris March milling wheat closing EUR0.50 lower at EUR125.00/tonne.
There isn't much to get too enthusiastic about, France has managed to win a small 60,000 MT share of an Egyptian 240,000 MT order this week.
Germany may have got a slice of a 700,000 MT Iraq buying order, but overall EU wheat seems to remain uncompetitive.
The pound and euro were both weak today, but that didn't seem to equate to much in terms of weakness in the grains complex.
The USDA are seen reducing 2009/10 wheat ending stocks from 976 to 973 million bushels in Tuesday's report.
There isn't much to get too enthusiastic about, France has managed to win a small 60,000 MT share of an Egyptian 240,000 MT order this week.
Germany may have got a slice of a 700,000 MT Iraq buying order, but overall EU wheat seems to remain uncompetitive.
The pound and euro were both weak today, but that didn't seem to equate to much in terms of weakness in the grains complex.
The USDA are seen reducing 2009/10 wheat ending stocks from 976 to 973 million bushels in Tuesday's report.
