PARIS: European wheat futures edged up on Friday in a technical bounce after a seven-session slide driven by expectations of ample global supply.
September wheat, the most-active contract on Paris-based Euronext, was up 0.5percent at €202.25 (USD233.56) a metric ton as of 1531 GMT.
The contract on Thursday reached its lowest since February 24 at €200.25, but found support at the psychological €200 floor.
A steadying in Chicago prices, which broke a five-session falling streak, also lent support.
News that a sea drone self-detonated at Romania’s Black Sea port of Constanta briefly stirred interest, but traders said the market remained relaxed about the impact of the Russia-Ukraine war on grain trade.
A further decline in French crop conditions following a late-May heatwave also supported prices.
Soft wheat crops were rated as 76 percent good/excellent by June 1, down from 78 percent a week earlier, though above a year-earlier score of 69percent, farm office FranceAgriMer said in a weekly report.
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