PARIS: Euronext wheat again traded in a narrow range on Wednesday, with ample global supply limiting support from a falling euro and keeping futures near contract lows.
December milling wheat, the most-active position on Paris-based Euronext, was down 0.1 percent at 187.50 euros (USD218.12) a metric ton by 1435 GMT, holding close to last Wednesday’s contract low of 185.00 euros.
The euro fell for a third day, pressured by political uncertainty in France following the collapse of its latest government.
A steadying in Chicago wheat after it neared a five-year low also lent some support to Euronext.
Traders said a partial government shutdown in the United States was contributing to subdued trading in grains by disrupting US crop and export data, and raising doubts over the timing of aid promised for US farmers affected by a trade dispute with China.
Rising supply in exporting countries remained a curb on wheat prices, with approaching southern hemisphere harvests set to add to competition.
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