PARIS: European wheat futures were flat on Wednesday, tracking a hesitant trend in Chicago as the market sought clearer indications about export prospects for the rest of the season.
March milling wheat, the most active contract on the Paris-based Euronext exchange, settled unchanged on the day at 203.00 euros ($231.42) a tonne.
It earlier equalled a near two-week low of 202.75 euros struck on Tuesday but again held chart support at that level.
Chicago wheat edged higher, steadying after a day-earlier fall.
Uncertainty about the terms of Britain's planned withdrawal from the European Union, following Tuesday's rejection of an exit deal by British lawmakers, as well as ongoing China/US trade talks and a partial US government shutdown all encouraged grain markets to drift, traders said.
In France, talk of fresh demand from Morocco and ship loadings for West Africa supported physical wheat premiums and improved export sentiment, traders said.
However, the market was still looking for clearer evidence of a shift in export demand away from top wheat supplier Russia.
"Until Russian export supplies start to sell out there seems to be not much hope for west Europe in export markets apart from our traditional buyers like Algeria, Saudi Arabia and South Africa," one German trader said.
"Export loadings in German ports are at a much lower volume than past years."
Standard bread wheat with 12 percent protein for January delivery in Hamburg was offered for sale unchanged at 3.0 euros over Paris March.
Feed grain demand after last summer's drought-damaged harvest again kept feed wheat over milling wheat prices.
Feed wheat in the South Oldenburg market for January/March delivery was offered for sale above milling wheat at around 217 euros a tonne, with buyers at around 216 euros.
Weekly data from Euronext showed financial investors had reduced their net long position in the exchange's milling wheat futures and options in the week to Jan. 11.
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