EU wheat hits 10-month high in broad grain rally

March 09, 2014

European wheat futures climbed to a 10-month high on Friday in a broad rally in grain markets stoked by export demand, weather risks and worries over tensions between Ukraine and Russia. May milling wheat, the most traded contract on Paris-based Euronext, rose as much as 3.2 percent to 212.75 euros a tonne, a level last seen on the contract in early May last year.
It later pared gains in line with the US market to unofficially close up 3.75 euros or 1.8 percent at 210.00 euros. Paris wheat was fired up by an earlier six-month high for US corn and a contract high for US soybeans, fuelled by brisk US exports. Wheat markets

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