European wheat futures rose for a sixth straight session to set new contract highs on Wednesday, supported by a sharp rise in US futures in Chicago and buying linked to hopes of brisk European exports.

* Benchmark January milling wheat in Paris closed up 3.75 euros or 1.3 percent at 275.25 euros.

* The contract earlier rose to 277.50 euros, the latest in a series of contract highs this week and a new high for a benchmark contract since early 2011.

* “We’re rising in considerable volumes,” one futures dealer said. “There are a lot of bits of bullish news plus the crop situation in South America that is putting it (South America) out of the export picture.”

* US wheat futures rallied for the third day in a row on Wednesday, jumping 1.9 percent to their highest level in more than five weeks on concerns about production shortfalls in top exporters like Argentina and Australia.

via EU wheat touches new contract highs, export hopes support.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Thailand’s Online Gambling Industry Size in 2022

Many Asian countries have already decriminalized casino gaming, like Singapore, Philippines, Cambodia end Malaysia, and trends suggest that Thailand may follow suit. Until then, Thai residents have to travel to countries that permit online gambling, like neighbouring Cambodia, or play online casino games on offshore casinos.

What is Vietnam’s Mining Capacity for EV Batteries?

From automobiles to mobile electronic devices, lithium-ion batteries have become the energy storage solution of choice for many manufacturers.

Thailand eyes rice hike plan with Vietnam

Thailand’s move could exacerbate the ongoing food inflation: the United Nations estimates global food prices have risen over 34% in the past year