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France tops U.S. wheat with premium seen at record

Posted on 25 October 2012

Surging demand for European Union wheat is reducing stockpiles to a 14-year low and driving prices in France, the biggest exporter, to a record premium over U.S. grain after drought withered supply from the Black Sea region.
EU licenses to ship wheat in the six weeks to Oct. 16 were 40 percent higher than a year ago, data from the 27-nation bloc show. French grain for March delivery now trades at a premium of 33 cents a bushel to Chicago futures, from a 78-cent discount in July………………………………………..Full Article: Source


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