Euronext milling wheat prices were slightly higher on Monday, mainly supported by technical elements and good export demand but volumes were thin as traders prepared for the Christmas break.
By 1712 GMT, benchmark March on the Paris-based milling wheat futures, was 0.4% higher at 187.00 euros a tonne.
"European and French wheat is exported at a good pace and also benefits from a euro which remains weak around $1.11," consultancy Agritel said in a note, pointing to good global demand from importing countries, including Iran.
Iran is planning to import 3 million tonnes of wheat this Iranian calendar year ending in spring 2020, an official said in October. It bought up to 1 million tonnes in recent weeks on international markets, trade sources said last week.
But Agritel warned that transport strikes over pensions reform in France could lead, if they continued, to market losses for French wheat.
Euronext wheat was also supported by strong prices on its rival Russian market where export prices rose for a sixth straight week last week due to a stronger rouble against the dollar and demand ahead of Russia's New Year holiday, analysts said.
Volumes traded on Euronext remained light.
"There is not a lot of business. A lot of people have closed or are closing their books before the break," one trader said.
Euronext will close at 1300 GMT on Tuesday and will remain shut on Wednesday and Thursday.
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