EU wheat futures reach six-month low due to Japan concerns

European wheat futures haveĀ hit a six-month low, dropping 6% on the Euronext exchange in Paris,Ā amid a sell-off prompted by concerns over the impact of the nuclear and earthquake disasters in Japan. Milling wheat futures dropped to €13.75 to €203 per metric ton.

1103FIwheatfutures

European wheat futures have hit a six-month low, dropping 6% on the Euronext exchange in Paris, amid a sell-off prompted by concerns over the impact of the nuclear and earthquake disasters in Japan.

Milling wheat futures dropped to €13.75 to €203 per metric ton. Rapeseed also dropped, to €412.50 per metric ton, down 5%. ā€œWe don’t believe prices can drop as low as in 2008 and 2009,ā€ said Michel Portier, founder of French consultancy Agritel. ā€œWe think the economy is much more solid than in 2008.ā€ According to traders, the drops apply to the futures market only — the cash market, they said, is far more stable.

Page 1 of 4
Next Page