January 2, 2013
EU 2012 wheat futures rise 27%
After gains driven by poor crop weather from the US to Argentina outweighed a year-end sell-off linked to fund liquidation and worries over stalled US budget talks, EU wheat futures ended the year by a rise of 27%.
After a shortened session on Monday (Dec 31) ahead of the New Year holiday, the benchmark March milling wheat contract on the Paris futures market closed down 0.7% at EUR248 (US$330) a tonne.
On a continuation chart, the second-month reference was up 27% from a close of EUR195.25 (US$259) at the end of 2011.
