EU Wheat Closes Lower On Outside Influences
EU wheat futures continued their decline pressured by the general turmoil in world financial markets.
Paris November milling wheat closed down EUR5.25 at EUR149.50/tonne and London May feed wheat ended down GBP1.10 at GBP101.50/tonne.
Liffe's Paris-based November corn closed down EUR1.25 at EUR129.75/tonne. November rapeseed closed down EUR6.50 at EUR327.25/tonne.
"Fundamentals are only playing a cameo role," said one trader,"its whats going on in other markets that is the main driving force."
The FTSE100 sank to its lowest close in over four years as a 50 billion pound ($87.84 billion) injection for banks from the state and coordinated interest rate cuts from global central banks failed to lift confidence.
The UK government said it would pump taxpayer funds into the embattled banking sector just hours before the Bank of England signalled a half percentage point interest rate cut in tandem with other global economies led by the Federal Reserve.
The rate cuts briefly lifted the FTSE 100 into positive territory, but jitters resurfaced once again, and the index closed down 5.2 percent or 238.5 points at 4,366.7, its lowest close since August 2004.
Paris November milling wheat closed down EUR5.25 at EUR149.50/tonne and London May feed wheat ended down GBP1.10 at GBP101.50/tonne.
Liffe's Paris-based November corn closed down EUR1.25 at EUR129.75/tonne. November rapeseed closed down EUR6.50 at EUR327.25/tonne.
"Fundamentals are only playing a cameo role," said one trader,"its whats going on in other markets that is the main driving force."
The FTSE100 sank to its lowest close in over four years as a 50 billion pound ($87.84 billion) injection for banks from the state and coordinated interest rate cuts from global central banks failed to lift confidence.
The UK government said it would pump taxpayer funds into the embattled banking sector just hours before the Bank of England signalled a half percentage point interest rate cut in tandem with other global economies led by the Federal Reserve.
The rate cuts briefly lifted the FTSE 100 into positive territory, but jitters resurfaced once again, and the index closed down 5.2 percent or 238.5 points at 4,366.7, its lowest close since August 2004.