PARIS: Euronext wheat edged lower on Thursday, consolidating after a two-week high as traders assessed the risk of export curbs in Ukraine and weather damage in grain belts around the world.
March wheat, the most active contract on Paris-based Euronext, was down 2.50 euros, or 0.9%, at 289.75 euros ($327.62) a tonne by 1606 GMT.
It earlier rose to 293.25 euros, slightly above a previous two-week top on Wednesday, before easing back.
Paris prices were curbed by a subdued trend in Chicago grain futures, which consolidated after a rally this week fuelled by dry weather in South America.
Euronext lost ground after Ukrainian grain trade association UGA said the country had enough wheat for domestic food demand and did not need to limit exports.
The comments tempered market reaction to Wednesday’s news that Ukraine is considering whether to cap milling wheat exports in the first half of 2022.
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