LIFFE Wheat, Rapeseed, Corn All Crash Heavily
LIFFE/Euronext grains futures are all heavily lower in mid-morning trade Monday as the world's financial woes continue, stifling demand and sending speculative money scurrying for the exits.
November London feed wheat is £3/tonne lower at £96/tonne, the lowest level for a front month since May 2007. Paris-based November milling wheat is also sharply lower, down EUR4.50/tonne at EUR155.50/tonne.
Paris November corn is EUR7.50/tonne lower at EUR127.00/tonne and November Paris rapeseed down EUR10.75/tonne at EUR333.25/tonne.
Bumper world crops and benign US crop weather are adding to the grain markets' overall decline.
Crude oil is sharply lower as the slump in world financial markets raises concerns that a weak global economy may further erode commodities demand.
Widespread rains over the farming belt in Argentina, the world's No. 4 wheat supplier, have improved the outlook for some 2008/09 wheat fields, the Buenos Aires Grains Exchange said on Friday.
November London feed wheat is £3/tonne lower at £96/tonne, the lowest level for a front month since May 2007. Paris-based November milling wheat is also sharply lower, down EUR4.50/tonne at EUR155.50/tonne.
Paris November corn is EUR7.50/tonne lower at EUR127.00/tonne and November Paris rapeseed down EUR10.75/tonne at EUR333.25/tonne.
Bumper world crops and benign US crop weather are adding to the grain markets' overall decline.
Crude oil is sharply lower as the slump in world financial markets raises concerns that a weak global economy may further erode commodities demand.
Widespread rains over the farming belt in Argentina, the world's No. 4 wheat supplier, have improved the outlook for some 2008/09 wheat fields, the Buenos Aires Grains Exchange said on Friday.