European wheat prices extended their gains late on Friday, helped by a weakening of the euro that made the region's origin more attractive, although continuing worries about the euro zone debt crisis and the global economy kept sentiment in check.
In Chicago, wheat for December delivery slipped 0.7 percent to $5.75 per bushel, while December corn fell 0.2 percent to $5.87-1/4 after erasing earlier gains that lent support to the European markets. In France, the European Union's biggest wheat exporter, January milling wheat was up 2 euros, or 1.1 percent, to 180.75 euros a tonne by 1819 GMT, with traders saying that a close above 180 euros would lend strength to the rebound.
The euro fell to seven-week lows against a buoyant dollar on Friday and was set to weaken further as disagreement on how to tackle the debt crisis drove borrowing costs to new euro-era highs and boosted demand for liquid assets.
Continuing division among Europe's leaders over the region's debt crisis further sapped investor sentiment as Germany's resolute opposition to a joint euro zone bond continued. The single currency's weakening bolstered the appeal of European origins, raising hopes of tender awards for a region that has struggled to compete with Black Sea and Latin American exporters in recent months.
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