Paris Grains Open Strongly

Posted by Nogger - a legend in his own mind at 10:37 | Categorized as

03/01/11 -- Paris grains have started the new year where they left the old one, with rapeseed leading the way sharply higher in early trade.

Front-month Feb rapeseed opened at EUR499/tonne, up EUR1.75/tonne, but easily broke through the EUR500/tonne barrier, quickly surging EUR6/tonne higher to a record EUR503.25/tonne.

May followed suit, trading EUR8.50/tonne higher in early trade at EUR492.75/tonne, on ideas that there is no real fundamental reason why it should be around a hefty EUR10/tonne discount to Feb.

Paris wheat is around EUR2/tonne higher in early trade, encouraged by firmness in the overnight Globex wheat market, with corn an early follower - up around EUR2-3/tonne.