EU Wheat Closing Comments
March London wheat closed GBP2.00 higher at GBP95/tonne, with March Paris wheat ending EUR0.25 easier at EUR122.25/tonne.
The pound hit a nine month low against the dollar which helped UK wheat push higher, although a lack of export interest despite a weak currency remains a concern.
A strong US market also helped UK wheat push higher.
The Ensus bioethanol refinery on Teesside is finally limping along, according to reports, although it is currently far from operating at full capacity I hear.
With EU wheat production seen higher in 2010 as winter wheat emerges from dormancy it is difficult to envisage prices moving significantly higher from here.
The pound hit a nine month low against the dollar which helped UK wheat push higher, although a lack of export interest despite a weak currency remains a concern.
A strong US market also helped UK wheat push higher.
The Ensus bioethanol refinery on Teesside is finally limping along, according to reports, although it is currently far from operating at full capacity I hear.
With EU wheat production seen higher in 2010 as winter wheat emerges from dormancy it is difficult to envisage prices moving significantly higher from here.
