Eagle Bulk Shipping Inc (EGLE)

[Jester_Vandalay]

EU wheat at five-month peak on bullish exports

Wheat futures in Chicago also rose on Monday, reaching a two-week
high with support from weather concerns in Argentina and Australia that could divert demand towards U.S. wheat. But weekly U.S. export inspections for wheat later came in at the low end of expectations.

Traders also reported on Monday that Iranian private buyers were inquiring about booking around 300,000 tonnes or more of milling wheat, in a sign a weekend agreement over Iran's nuclear programme could ease difficulties in financing import deals.

But traders cautioned that it may take some time for financing to become viable again for private importers in Iran. The country's state buyer has bought a large amount of EU wheat in the past year, notably from Germany and the Baltic countries.

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