Paris wheat slips again as Russian export competition weighs

PARIS: Euronext wheat futures extended losses on Wednesday to new contract lows as falling Russian prices kept attention on competition to capture sluggish international demand, traders said.

March wheat on Paris-based Euronext was down 1.1% at 211.50 euros ($229.41) a metric ton by 1648 GMT.

It earlier fell to 210.50 euros, a life-of-contract low and the weakest front-month price in nearly two months.

Chicago wheat also fell as the previous day’s rebound in US grains stalled amid worries over Chinese demand.

Falling prices in Russia, which still has a large surplus to shift before this summer’s harvest, have kept the wheat market’s focus on Black Sea supplies.