Scream If You Wanna Go Faster

Posted by Nogger - a legend in his own mind at 10:54 | Categorized as

24/02/11 -- Having opened EUR2.50 lower and then traded down to EUR5.25 easier, March Paris milling wheat currently trades EUR2.50 higher having already established a EUR8.25 trading range on the day. And it isn't even 11am yet!

The USDA are expected to release initial thoughts on US spring plantings later this afternoon, with the trade expecting US farmers to respond to the second highest corn prices on record with the second highest corn acreage since WW2. Soybean sowings meanwhile are expected to be the highest ever.

Various bulk cargo shipping companies have announced that they have suspended transport to Libya until the situation there improves.

The pound is down against the euro on news that UK retail sales growth fell sharply in Feb, putting in it's worst performance in eight months. At the same time the European Commission said that confidence in the EU economic recovery improved this month.