European Ag Producers marking down wheat in USD terms

Report here at Reuters.

Weak exports also weighed on corn, which fell for the seventh time in eight sessions. 

Soybean futures dropped on a profit-taking setback after overnight strength pushed prices to a 10-day high. 

Wheat came under pressure following a U.S. Agriculture Department report that showed weekly export sales for the 2014/15 marketing year came in at a disappointing 151,000 tonnes. 

The decision by Egypt's GASC to buy 180,000 tonnes of French wheat in their latest tender illustrated how uncompetitive U.S. supplies were on the world market.

Now evidence here of European price discounting going on in the Ag sector as well.

Meanwhile:  Euro hits fresh nine-year low on expectation of ECB action.  Broke thru $1.18 today.