EU Wheat Futures Nudge Lower
EU wheat futures continue to edge lower Thursday with London November feed wheat down GBP0.35 at GBP121.75/tonne and Paris-based November milling wheat EUR1.50 lower at EUR187.25/tonne.
An improved weather outlook, particularly for the southern half of the UK, for the rest of week could see temperatures as high as 27C or 28C forecasters say.
This should enable speedy progress on wheat and oilseed rape harvesting traders say.
Chicago wheat has closed down the last four sessions, and was down quite heavily last night as wheat crops around the world just keep getting bigger.
London wheat looks set for it's lowest weekly close since November '08, a close below GBP121.50/tonne would signal the lowest weekly close for the November contract since September '08.
An improved weather outlook, particularly for the southern half of the UK, for the rest of week could see temperatures as high as 27C or 28C forecasters say.
This should enable speedy progress on wheat and oilseed rape harvesting traders say.
Chicago wheat has closed down the last four sessions, and was down quite heavily last night as wheat crops around the world just keep getting bigger.
London wheat looks set for it's lowest weekly close since November '08, a close below GBP121.50/tonne would signal the lowest weekly close for the November contract since September '08.