EU Wheat Closing Comments
London wheat closed Tuesday with January down GBP0.75 at GBP107.25/tonne, and Paris January milling wheat down EUR2.50 at EUR131.75/tonne.
Pressure came from a lower US market winding down ahead of Thursday's Thanksgiving Day holiday. Outside influences like weaker crude oil also weighed on prices today.
Egypt are again tendering for wheat later in the week. Despite reports that Russia and Ukraine are the cheapest shops in the street, which they are, they are also Poundland but if you want a bit of quality then you may have to look elsewhere.
Russian first grade milling wheat with a 1% maximum bug damage prices rose USD5/tonne on the week, as supplies of this top quality grain diminish. Quality conscious buyers seem to be shifting towards buying a bit of better grade wheat to mix with Poundland wheat from the Black Sea.
The unfortunate bankruptcy today of high profile Rotterdam-based, and seemingly apparent 'blue chip' feed company, Schouten Ceralco has sent a shudder around the European grain and feed trade. This has created a vacuum of uncertainty, which may lead to some short-term availability difficulties.
In Europe, everybody seems to have their cautious head on at the moment, and who can blame them?
Pressure came from a lower US market winding down ahead of Thursday's Thanksgiving Day holiday. Outside influences like weaker crude oil also weighed on prices today.
Egypt are again tendering for wheat later in the week. Despite reports that Russia and Ukraine are the cheapest shops in the street, which they are, they are also Poundland but if you want a bit of quality then you may have to look elsewhere.
Russian first grade milling wheat with a 1% maximum bug damage prices rose USD5/tonne on the week, as supplies of this top quality grain diminish. Quality conscious buyers seem to be shifting towards buying a bit of better grade wheat to mix with Poundland wheat from the Black Sea.
The unfortunate bankruptcy today of high profile Rotterdam-based, and seemingly apparent 'blue chip' feed company, Schouten Ceralco has sent a shudder around the European grain and feed trade. This has created a vacuum of uncertainty, which may lead to some short-term availability difficulties.
In Europe, everybody seems to have their cautious head on at the moment, and who can blame them?