London wheat has recovered above £100 a tonne, helped by a decline in sterling and a refusal by farmers to sell off their stocks at lower prices.

London's November wheat contract closed up £2.00 at £100.00 a tonne on the nose, the first close above the ton mark since August 5.

The contract has now recovered 5.0% in since hitting a 2009 low of £95.25 a tonne last week.

'Slow farmer selling'

Traders credited the revival in part to a weakening of sterling against both the dollar and the euro, which hit a two-and-a-half month high of 87.575p.

A strong start to Chicago wheat, which took the September contract 3.6% higher, further underpinned optimism.

However, growers' refusal to discard wheat below £100 a tonne may also have paid dividends.

Glencore, the grain trader, attributed the price revival in part to "slow farmer selling forcing consumers to have to pay up to cover sales".