HAMBURG: European wheat futures in Paris were little changed on Tuesday after earlier hitting seven-week highs, as export-boosting euro weakness offset falling US markets.
Benchmark December milling wheat on the Paris-based Euronext exchange was unchanged at 188.50 euros ($222.2) a tonne at 1543 GMT.
The contract on Tuesday again hit the seven-week high of 189 euros also reached last Thursday and Friday but remained capped by chart resistance around that level.
"We're consolidating gently after the fireworks of last week, taking our cue from US wheat," a futures dealer said.
Grain markets have been buoyed by brisk Chinese demand for US grain, but improved harvests in Russia and Australia have taken attention away from disappointing crops in countries including France.
Wheat cash premiums in France have declined amid a lull in export activity and as traders wait for the maize harvest.
In Poland, export prices firmed as a brisk programme of ship loadings in Polish ports continued.
Export prices for 12.5% protein wheat rose 15 zloty on the week to around 780 zloty (175.5 euros) a tonne for September delivery to port silos.
"Exporters in Poland are active with several large vessels set to load and Algeria suspected to be a destination for some Polish wheat," one Polish trader said. "But Poland faces heavy competition from the Baltic states, who are offering low prices after good harvests.
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