Draghi Lending EU Wheat Farmers a Helping Hand as Euro Tumbles
- French wheat becomes more competitive than Black Sea varieties
- Euro at 7-month low to dollar may help boost EU wheat exports
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Mario Draghi may have done just enough to help European farmers offload their pile of wheat.
With the European Central Bank president fueling speculation his board will ease monetary policy next week, the euro tumbled to a seven-month low against the dollar. That’s boosting the competitiveness of European wheat against grain from the Black Sea region and could potentially accelerate exports that are running 29 percent behind last year’s.