Investing.com investing.com 04 Jan, 2021 21:45 am

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

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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