EU Wheat Close - Tuesday

Posted by Nogger - a legend in his own mind at 23:19 | Categorized as

28/12/10 -- London wheat was closed Tuesday, although the French market was open ending with Jan Paris wheat up EUR3.50 at EUR252.50/tonne, whilst new crop Nov climbed EUR3.75 to EUR223.75/tonne.

French wheat dipped out on the latest Egyptian tender, with the order going the way of US and Argentine wheat. That didn't seem to perturb the market too much however given the rapid pace of existing export activity.

French wheat hit contract highs despite the Egyptian disappointment, some would say it would have been an inconvenience to have won it in fact.

The market has to be particularly robust when a failed export tender is almost seen as a blessing in disguise.

Weather conditions in Australia seem to have improved, aiding harvest progress there, although quality remains an issue.