PARIS: European wheat futures ended the year up 27 percent after gains driven by poor crop weather from the United States to Argentina outweighed a year-end sell-off linked to fund liquidation and worries over stalled US budget talks.
After a shortened session on Monday ahead of the New Year holiday, the benchmark March milling wheat contract on the Paris futures market closed down 0.7 percent at 248.00 euros ($330) a tonne.
On a continuation chart, the second-month reference was up 27 percent from a close of 195.25 euros at the end of 2011.
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