Euronext wheat futures were little changed on Friday as traders weighed up renewed competition from Russian wheat in Egypt against a lack of selling by farmers. Physical premiums in Germany rose again as a recent run of export sales drove buying.
Benchmark December milling wheat on the Paris-based Euronext exchange was down 0.25 euro at 177.25 euros ($195.33) a tonne by 1458 GMT.
Healthy demand in recent weeks amid an unusually slow start to Russia's export campaign had boosted export sentiment in France and elsewhere in western Europe.
However, a large purchase of Russian and Ukrainian wheat by Egypt in a tender on Thursday tempered optimism about French exports.
"Matif (Euronext) looks at about the right level," one futures dealer said. "French wheat isn't quite competitive for exporting to Egypt, but there is a lack of selling by farmers and cooperatives."
Traders were unperturbed by rain delays to sowing in France.
Sowing of soft wheat for next year's harvest was 72% complete by Nov. 11, up from 67% the previous week but down from 92% a year earlier, farm office FranceAgriMer said on Friday.
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