EU Wheat Ends Sharply Lower
EU wheat futures continued their slide Friday closing sharply lower on burdensome supplies and lack of demand.
Paris November milling wheat fell to a 17-month low closing down EUR7.25 at EUR142.75/tonne.
London November feed wheat closed down GBP4.00 at GBP89.50/tonne. That's the first time a spot month has been below £90/tonne since September 2006.
The USDA revised its 2008-09 world wheat crop estimate to a record 680.2 million tonnes which added to the bearish sentiment. That's an increase of 71 million tonnes on 2007-08.
The NFU say that the 2008 UK wheat crop is 17.17 million tonnes, 25% up on last year.
The credit crisis continues to bite, raising concerns over many potential importing nation's financial status.
Paris November milling wheat fell to a 17-month low closing down EUR7.25 at EUR142.75/tonne.
London November feed wheat closed down GBP4.00 at GBP89.50/tonne. That's the first time a spot month has been below £90/tonne since September 2006.
The USDA revised its 2008-09 world wheat crop estimate to a record 680.2 million tonnes which added to the bearish sentiment. That's an increase of 71 million tonnes on 2007-08.
The NFU say that the 2008 UK wheat crop is 17.17 million tonnes, 25% up on last year.
The credit crisis continues to bite, raising concerns over many potential importing nation's financial status.