PARIS: Euronext wheat edged higher on Thursday as traders assessed weather-fuelled volatility in US futures and a steep fall in the euro.
September milling wheat on Euronext settled up 0.50 euros, or 0.2%, at 215.50 euros ($261.16) a tonne.
The contract earlier rose to 220.00 euros but faced selling pressure at that level, as on Wednesday when prices retreated after touching a two-week top at 221.50 euros.
Euronext trimmed gains from earlier on Thursday as Chicago corn and wheat futures turned lower, although a slide in the euro against a rallying dollar underpinned Paris prices.
Hot, dry weather expected in northern US belts in coming days could add to drought stress for US spring wheat. US corn could also face dryness but initial crop conditions were favourable.
Reduced forecasts of Brazil’s upcoming corn crop were also underscoring supply concerns.
In Germany, old-crop exports continued, with one ship loading 66,000 tonnes of wheat for Iran and another set to load 35,000 tonnes for Angola.
In France, wheat shipments outside the European Union and Britain reached their lowest for May in at least a decade, Refinitiv data showed.
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