21-01-2014 02:58 AM | France

EU wheat hits three-month low on plentiful global supply

European wheat futures extended losses on Monday to hit their lowest in more than three months as plentiful global supply continued to take the shine off healthy export demand. Paris prices were pressured by a 1.6 percent drop at Friday's close in Chicago that left US wheat just above a 3-1/2 year low.

A holiday closure for US markets on Monday, to mark Martin Luther King Day, deprived European wheat of fresh direction and kept volumes moderate.
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