investing.com 04 Jan, 2021 21:45 am

EU wheat sets new highs as grain markets fret over South America

Read EU wheat sets new highs as grain markets fret over South America By Reuters

"Wheat is a follower in a grain complex driven by corn and soybeans, with insatiable Chinese demand and South American weather at play," consultancy Agritel said in a note."Only a large-scale entry of India onto the export market could cool current upward momentum," Agritel said of wheat.25 euros, a life of contract peak and a highest spot price since August 2018, before paring gains as Chicago futures turned lower after fresh six-year highs in overnight trading.00 euros, a life of contract peak and the highest spot price in nearly three years.

PARIS, Jan 4 (Reuters) - Euronext wheat rose to a two-year high on Monday as worries about reduced export supplies from South America continued to stir grain markets.GRA/ Dry crop weather in South America and disruption to exports from Argentina has unsettled investors at a time of brisk Chinese demand that has eroded worldwide grain supply.

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