Paris wheat holds above lows, Polish prices stable

PARIS: Euronext wheat futures edged higher on Friday, holding above 3-1/2 year lows as traders watched to see if current prices would stir more demand.

Participants were also adjusting positions before Monday’s expiry of March futures. The market showed little immediate reaction to monthly world crop forecasts from the US Department of Agriculture (USDA), with the report seen broadly in line with expectations.

May milling wheat, the most active position on Paris-based Euronext, settled 0.8% higher at 193.50 euros ($211.63) a metric ton. It had struck on Wednesday a lowest second-month price since September 2020 at 188.00 euros before rebounding.