Paris wheat falls

HAMBURG/PARIS: European wheat futures eased on Monday as the prospect of abundant supply in exporting countries hung over the market. December wheat on the Paris-based Euronext market was down 0.4percent at 188.50 euros (USD219.83) a metric ton at 1328 GMT. Chicago wheat also edged lower. The run-up to what are expected to be bumper harvests in Argentina and Australia was maintaining supply pressure, with large supplies also available in export markets from the Black Sea region.

Analysts have raised their estimates for Australia’s wheat harvest, a Reuters poll showed on Monday. “You can’t really see wheat futures rallying,” a European broker said.