Upward price trend for EU grains

MILLING wheat has led an upward price trend for European grains. Bread wheat futures last week reached their highest level since April 2004.

Quotations for Black Sea milling and feed wheat also climbed, despite recently increased crop estimates.

Reduced milling quality, export demand (India and Egypt are key buyers), and interest from the feed industry have boosted grain prices. The trend may hit bread prices, with bakers warning shoppers may have to pay 6 to 14 cent more for a loaf.