EU Wheat Closing Comments
EU wheat futures closed mixed with March London feed wheat ending GBP1.85 higher at GBP96.85/tonne, and Paris March milling wheat finishing EUR0.75 lower at EUR121.50/tonne.
London wheat was firmer after the pound crashed to fresh 2010 lows against the euro and its lowest since early May 2009 against the dollar.
Speculation that the UK might be in for a hung parliament at the next election sparked a run on sterling.
Who knows what inept squabbling that would cause, it would certainly be highly unlikely to be conducive to any attempt at sorting out the spiraling budget deficit.
In the UK the HGCA say that "crops have survived the unusually cold winter conditions well, and although growth has slowed, there are more crops at the expected crop development stage than last year, when crops were planted late and into poor conditions."
Iraq bought 380,000 MT of Russian, Canadian and Australian wheat over the weekend, with both EU and US wheat failing to get a look in.
London wheat was firmer after the pound crashed to fresh 2010 lows against the euro and its lowest since early May 2009 against the dollar.
Speculation that the UK might be in for a hung parliament at the next election sparked a run on sterling.
Who knows what inept squabbling that would cause, it would certainly be highly unlikely to be conducive to any attempt at sorting out the spiraling budget deficit.
In the UK the HGCA say that "crops have survived the unusually cold winter conditions well, and although growth has slowed, there are more crops at the expected crop development stage than last year, when crops were planted late and into poor conditions."
Iraq bought 380,000 MT of Russian, Canadian and Australian wheat over the weekend, with both EU and US wheat failing to get a look in.
