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European wheat prices were unchanged to slightly lower on Monday, pressured by a broad commodities sell-off on US markets on Friday, but trade remained very light with many European countries on holiday and US markets closed. Paris December milling wheat, the new-crop benchmark on Euronext, was unchanged by 1340 GMT at 184.00 euros a tonne in a volume of just 1,039 lots.
Front-month September was 0.25 euro, or 0.1 percent, lower. The fall of the euro against the dollar prevented EU grain prices from following the more than 1 percent slump on US wheat futures in Chicago on Friday. The euro fell to a one-month low of $1.0959 in European trade, with some traders citing heavy losses by Spain's ruling party in local elections as a factor. Worries that Greece cannot service debt repayments next month amid a cash crunch also weighed on the currency. A lower euro makes euro-denominated products more attractive for export at a time when competition on international grain markets is fierce.

Copyright Reuters, 2015

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