EU Grains Close - Wednesday

Posted by Nogger - a legend in his own mind at 08:00 | Categorized as

17/08/11 -- EU grains finished mixed with Nov London wheat down GBP0.50/tonne to GBP164.00/tonne and Nov Paris wheat ending EUR1.00/tonne higher at EUR200.00/tonne.

A stronger pound was against London wheat. Sterling rose to a two and a half month high of 1.6590 against the dollar and close to 1.15 versus the euro.

The German harvest continues to stutter along with on-off (mostly on!) rains throughout July and August potentially damaging both yield and quality.

Whilst producers in northern Europe are busy with the harvest they haven't got their minds on selling, not that demand from the compound feed sector is great either.

Egypt are back in the market tendering for wheat again, whilst Russian prices have moved up a bit they are still far more competitive than French offers.

The Kazakhstan Ministry have increased their mostly spring grain crop estimate to 18.9 MMT from 16-17 MMT previously.