LONDON GRAINS SEES WHEAT RECOVER FROM LOWS
U.K. Physical wheat values recovered from
initial losses of one to two stg per tonne caused by overnight
news of the release of an additional 300,000 tonnes of
intervention feed wheat for U.K. Weekly home market tenders.
    Consumer buyers were attracted by the cheaper offers,
traders said, and by early afternoon the market had recovered
to one stg down to unchanged.
    U.K. Wheat futures also rallied to end the morning
unchanged to 0.05 stg easier.
    In East Anglia, April deliveries of feed wheat traded at
123 and May at 124 but were subsequently bid one stg a tonne
    The market for denaturable wheat in Liverpool held
comparatively steady with sellers holding back due to uncertain
conditions.
    April deliveries made 127.50 and June 129.50 stg per tonne,
basis Liverpool.
    The fob market for wheat started easier but here again
selling pressure lifted around midday. Apr/Jun shipments traded
fob east coast at 123 stg per tonne. This compared with 124
paid for April yesterday and 125 for May/June.
 REUTER
