PARIS: European wheat fell on Thursday in the wake of US Chicago, pressured by expectations that US supplies will continue to struggle on the global export market, traders said.
Benchmark December milling wheat on Paris-based Euronext, closed down 0.8 percent or 1.50 euros to 198.25 euros a tonne, still above the key support of 198.00 euros. Volumes traded were very light.
Front month September, which is expiring on Monday, was up 1.8 percent at 202.75 euros.
Most active wheat on the Chicago Board of Trade was down 1.4 percent at $5.14-1/2.
Russia’s agriculture ministry repeated on Thursday it had no plans to impose a tax on wheat exports, as speculation remains that the country, one of the world’s largest wheat exporters, might move to limit wheat exports later in the season because of a smaller crop.
“It has no plans but what will happen later?,” a trader said.
Source: Brecorder
