London Wheat Price Hits Record

Wednesday, December 29, 2010
By Paul Martin

London wheat price hits record £200 a tonne
29th December 2010

London wheat hit £200 a tonne for the first time ever on Wednesday, playing catch up with Chicago and Paris peers, as UK markets reopened after the Christmas break.

The January contract rose 1.3% to stand at £200.00 a tonne at 11:15 GMT, a record for a near-term contract in London.

The increase came against the trend in other markets on Wednesday, with Paris wheat for January easing 0.1% to E252.50 a tonne and Chicago’s near-term March lot fell 0.3% to $7.96 ¼ a bushel.

Oilseeds were lower too, with Paris’s near-term rapeseed contract, currently February, falling back to E497.00 a tonne, having failed, by E0.50, earlier to hit E500.00 a tonne for the first time in two years.

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