Wheat prices in western Europe were higher on Thursday with attention focussed on the extent of rain damage to crops in France and Germany.
* Dealers noted worries over rain damage to the French crop led to some buyers to turn to Euronext for milling quality.
* "There is a bit of panic about quality," one futures dealer said. "This is encouraging some people to come and buy on Euronext in case the crop quality isn't there."
* November milling wheat on the Paris-based Euronext market was unofficially closed up 1.50 euros or 0.8 percent at 181.00 euros a tonne, after earlier reaching its highest in almost a week at 182.75 euros.
* Some very poor quality readings so far in northeast France have raised the risk that a large portion of the crop would be downgraded to animal-feed quality.
* Traders said low crop quality could eventually drag Euronext prices lower as the futures represent a basic milling wheat standard.
* On the French cash market, premiums continued to widen between milling and feed wheat.
* At Rouen, France's top grain export hub, feed wheat for July/August was quoted at 33 euros below Euronext November , broker said. Milling crop was at 6 euros above Euronext November but prices were nominal with sellers reluctant to offer crop given signs of poor harvest quality.
* Uncertainty about grain quality could also be created by differing requirements set by the Rouen silos that take wheat delivered against Euronext's new-crop futures
No problem Canada has lots of last years #1 hrs available that Grain companies will get.
* Dealers noted worries over rain damage to the French crop led to some buyers to turn to Euronext for milling quality.
* "There is a bit of panic about quality," one futures dealer said. "This is encouraging some people to come and buy on Euronext in case the crop quality isn't there."
* November milling wheat on the Paris-based Euronext market was unofficially closed up 1.50 euros or 0.8 percent at 181.00 euros a tonne, after earlier reaching its highest in almost a week at 182.75 euros.
* Some very poor quality readings so far in northeast France have raised the risk that a large portion of the crop would be downgraded to animal-feed quality.
* Traders said low crop quality could eventually drag Euronext prices lower as the futures represent a basic milling wheat standard.
* On the French cash market, premiums continued to widen between milling and feed wheat.
* At Rouen, France's top grain export hub, feed wheat for July/August was quoted at 33 euros below Euronext November , broker said. Milling crop was at 6 euros above Euronext November but prices were nominal with sellers reluctant to offer crop given signs of poor harvest quality.
* Uncertainty about grain quality could also be created by differing requirements set by the Rouen silos that take wheat delivered against Euronext's new-crop futures
No problem Canada has lots of last years #1 hrs available that Grain companies will get.
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