EU Wheat Close

18/11/10 -- EU wheat futures closed with Nov10 London wheat GBP2.00 higher at GBP165.50/tonne, and Nov11 London wheat up GBP0.65 to GBP142.40/tonne. Jan11 Paris wheat closed EUR0.50 higher at EUR213.25/tonne and Nov11 Paris wheat was up EUR1.75 to EUR191.75/tonne.

Egypt bought 175,000 MT of US wheat in today's tender, picking up two 60,000 MT cargoes of SWW wheat and one 55,000 MT consignment of HRW wheat,

Brussels issued export licences for 442,000 MT of soft wheat this past week, bringing the marketing year to date total to 9.2 MMT, over a third higher than the 6.8 MMT issued at the same time last year.

Imports however are more than 50% down on a year ago at 914,000 MT.

US wheat futures rose sharply overnight on ideas that the losses of the last few days have more than factored in potential Chinese demand problems.

Weekly US export sales figures from the USDA were significantly better than expected at almost 1 MMT.