PARIS: Euronext wheat fell on Monday, in retreat from a seven-week high struck last week as a stronger euro and profit-taking weakened prices and traders awaited a clearer picture of the forthcoming European harvest.
Spot September milling wheat on Euronext settled down 2.25 euros, or 1.2%, at 184.75 euros ($210.12) a tonne.
The contract had risen on Friday to 189.75 euros, its highest since May 21, before meeting resistance at the 190 euro level and closing slightly lower.
A fall in Chicago wheat after a 2-1/2 month peak on Friday, a weaker trend in Russian wheat futures after a steep rally, and a sharp rise in the euro against the dollar drove Monday's declines, traders said.
Last week's rally had followed a surprisingly low first forecast of the French soft wheat harvest by France's farm ministry.
Early wheat harvest reports in France continued to point to extremely contrasting yields.
In Germany, standard bread wheat with 12% protein for September delivery in Hamburg was offered for sale little changed at around 1.0 euro under the Paris December contract, but with a widening gap between purchase interest at around 3.0 euros under Paris.
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