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European wheat prices finish week lower

Cereals US wheat futures contracts hit new lows today as Canadian wheat planting estimates from StatsCan were higher than traders expected despite being slightly lower than last year as farmers favour canola [See Chart of the Day#1]. The large short position funds hold on US wheat coupled with the improving US wheat crop conditions keep prices under…


EU wheat lower as CBOT drops closer to contract lows

Cereals In the wake of CBOT wheat eyeing contract lows, EU grains could not go against the flow. UK wheat continues to trade sideways in a very narrow £5/T range since February, torn between domestic tight stocks and the global feedstuff glut. Despite solid EU wheat exports relative to last year’s poor harvest, Euronext wheat closed lower for a…


EU wheat supported as dry forecasts remain across Western Europe

Cereals Rainfall across western Europe is at 30% of normal levels in places which is causing concern for both spring plantings and winter crops should it continue through May. Prospects for Rainfall across UK/ France and Spain over next 10 days remain limited, with Germany forecast relief within the next 6-10days. Markets are getting nervous…