EU Wheat Close
November London wheat closed GBP0.80 higher at GBP159.00/tonne, whilst November Paris wheat rose EUR1.00 lower at EUR227.75/tonne.
Futures traded on both sides today, before a firmer US market late on dragged things up to close at or near session highs for the day.
London got a boost from talk that the French would need to import 1.2 MMT of feed wheat itself this year - the most in more than 60 years - as demand for it's high quality milling wheat pushes exports to non-EU destinations to a record 11 MMT.
ADAS say that last weeks fine weather allowed the UK wheat harvest to progress to around 90% complete, with around 150,000 ha left to be cut mainly in Scotland and the North East.
The winter barley harvest is all done, with yields below average at 6.2-6.3t/ha, whilst around 85% of the spring barley area has now been cut, they added.
The trade remains cautious ahead of tomorrows USDA reports on crop production and ending stocks in the US, plus weekly US exports and world output numbers too.
In Paris November wheat, open interest continues to decline from stunningly high levels. The differential between November and March is also eroding, although the front month still remains at a premium to the deferred position.
Futures traded on both sides today, before a firmer US market late on dragged things up to close at or near session highs for the day.
London got a boost from talk that the French would need to import 1.2 MMT of feed wheat itself this year - the most in more than 60 years - as demand for it's high quality milling wheat pushes exports to non-EU destinations to a record 11 MMT.
ADAS say that last weeks fine weather allowed the UK wheat harvest to progress to around 90% complete, with around 150,000 ha left to be cut mainly in Scotland and the North East.
The winter barley harvest is all done, with yields below average at 6.2-6.3t/ha, whilst around 85% of the spring barley area has now been cut, they added.
The trade remains cautious ahead of tomorrows USDA reports on crop production and ending stocks in the US, plus weekly US exports and world output numbers too.
In Paris November wheat, open interest continues to decline from stunningly high levels. The differential between November and March is also eroding, although the front month still remains at a premium to the deferred position.
