November 19, 2009
Volatile European wheat futures driven by currency
Volatility in European wheat futures' prices is due in part to currency fluctuations, said Germany grain trading house Toepfer Wednesday (November 18).
Over the past month both the euro and sterling have been strengthening against the US dollar, although not in a straight line.
Demand for milling wheat remains slow, with ample wheat supplies in most wheat-growing origins.
"As there is still no great demand for high-quality wheat, particularly for the export into third countries, the price difference between feed and milling wheat declined," said the Toepfer report.
