EU Wheat Ends Higher
EU wheat futures closed with strong gains Monday supported by firmer US markets and continued concerns over South American crops, particularly in Argentina.
March Paris milling wheat closed up EUR2.00 at EUR154.OO/tonne. May London feed wheat ended up GBP4 at GBP127.00/tonne.
The jury is still out on exactly how much rain fell, and where, and how beneficial it was in Argentina over the weekend. It was certainly too late for wheat, but may have had some impact on soy & corn crops.
The Buenos Aires Cereals Exchange released some forecasts Friday that pretty much said some very serious damage had been done to crops there and that 28.8 million tonnes of grain and oilseeds could already be lost to drought this season.
March Paris milling wheat closed up EUR2.00 at EUR154.OO/tonne. May London feed wheat ended up GBP4 at GBP127.00/tonne.
The jury is still out on exactly how much rain fell, and where, and how beneficial it was in Argentina over the weekend. It was certainly too late for wheat, but may have had some impact on soy & corn crops.
The Buenos Aires Cereals Exchange released some forecasts Friday that pretty much said some very serious damage had been done to crops there and that 28.8 million tonnes of grain and oilseeds could already be lost to drought this season.