EU Grains Mostly Lower

Posted by Nogger - a legend in his own mind at 12:25 | Categorized as

15/06/16 -- EU grains finished in the red across the entire board in Paris, with London wheat unchanged. Jul 16 London close flat at GBP109.45/tonne, Sep 16 Paris wheat was down EUR1.75/tonne at EUR164.25/tonne, Aug corn was EUR0.50/tonne lower at EUR185.50/tonne and Aug 16 rapeseed was down EUR5.00/tonne to EUR372.25/tonne.

Weaker US markets, pre-harvest pressure and nervousness ahead of next week's UK referendum vote encouraged a bit of selling.

Fresh news was generally lacking.

Worries over the quality of this year's French wheat crop are keeping a floor in the market for the time being, at least until more is known once the harvest commences.

As the search for foreign wheat homes continues, Reuters reported that the French port of Dunkirk was this week loading 66,000 MT of wheat for Vietnam - the first such sale in 25 years.

The HGCA noted that "rapeseed is still not in control of its own destiny" saying it's fortunes are closely aligned to those of palm and soybeans. US beans were down today, and rapeseed followed suit despite strong underlying fundamentals.

Russia reported spring wheat plantings fully complete, with barley past 96% done and corn sowings on 93%.