EU Wheat Futures Decline For Eighth Straight Session
EU wheat futures are lower again Tuesday morning, declining for an eighth straight session, hitting levels last seen over a year ago.
Paris Nov milling wheat is currently EUR4 lower at EUR178/tonne, having earlier hit a 13-month low of EUR175.75/tonne.
London Nov feed wheat is GBP1.50 lower at GBP117/tonne, a level not seen since July 2007.
A sharply lower CBOT market after the long holiday weekend is dragging futures lower as is the falling price of crude oil after Hurricane Gustav failed to inflict much damage on US oil refineries in the Gulf of Mexico.
A weaker sterling and euro against the dollar is struggling to add support in the face of a sharp sell-off in commodities in general and global economic gloom.
Rains in Australia across the weekend may also have boosted crop prospects there traders said.
Paris Nov milling wheat is currently EUR4 lower at EUR178/tonne, having earlier hit a 13-month low of EUR175.75/tonne.
London Nov feed wheat is GBP1.50 lower at GBP117/tonne, a level not seen since July 2007.
A sharply lower CBOT market after the long holiday weekend is dragging futures lower as is the falling price of crude oil after Hurricane Gustav failed to inflict much damage on US oil refineries in the Gulf of Mexico.
A weaker sterling and euro against the dollar is struggling to add support in the face of a sharp sell-off in commodities in general and global economic gloom.
Rains in Australia across the weekend may also have boosted crop prospects there traders said.