The Morning Vibe

15/09/11 -- London and Paris wheat have opened weaker, falling to their lowest levels in almost a month, with Nov Paris wheat slipping below EUR200.00/tonne for the first time since Aug 19th.

The reason seems to be apathy more than anything else. Egypt booked Russian wheat again yesterday, with French origin once more proving too expensive.

Strategie Grains have cut their EU-27 soft wheat production estimate for this season to 129 MMT, and reduced the milling wheat share of that to 83.5 MMT citing heavy rains in August in Germany, Poland, Scandinavia and the Baltic states as having an adverse affect on quality. Even so that's substantially more than the 69 MMT rated as milling grade last season.

Those same rains look like providing Europe with a bumper corn harvest this year though, with production rising to 61.7 MMT, the French analysts say. That's 700,000 MT more than the USDA's latest projection released on Monday.

The HGCA say that the UK wheat harvest is 96% complete and the spring barley crop is 77% done (although it's only at about the halfway point in Scotland).

Those useless muppets at Defra say that UK wheat plantings were 1.8 million hectares for this season's harvest, a record 660,000m ha for rapeseed and 615,000m ha for barley. They also said that they fancy England's chances for the 1966 World Cup.

Ukraine held 21.9 MMT of grain stocks as of September 1st, an increase of 20% year-on-year, according to the state statistics committee.

Greece says that it IS going to do what it promised to do but hasn't managed to do yet. It's been busy what with the kid being off and civil unrest and everything, it's all in hand so there's no need whatsoever to worry and can it have the next installment please. And no cheques either, a bank transfer this afternoon would be good. The market strangely seems reassured by that.

A man has been arrested in London over allegations of rogue deals, say the BBC. Mr Wenger says that he made those signings in good faith.

A 42 year old Dutch woman who called her "boyfriend" an average 178 times a day for a year (that's 65,000 times to save you the trouble) is to face charges of stalking, say the BBC. I didn't know that MrsN#2 was Dutch.