Wheat prices to soar over low stocking levels in EU, experts claim
Industry experts predict the price will remain high for the remainder of 2011. Milling wheat traded on the NYSE Liffe exchange in Paris, the European benchmark, averaged €252.20 a ton in the first quarter, the second highest price since 1999. It fell by around 1% to €238 yesterday, but looks sure to trade at €220 to €250 over the next year.
French agri-analysis firm Offre et Demande Agricole is advising its 5,000 French farm members to sell crops, according to Bloomberg. Prices may reach €300 should crops fail in one of the bigger producers, it advises.
