Euronext wheat futures edged higher on Monday as a tender announced by Algeria, the top buyer of French wheat, was set to add to recent run of export demand for western European origins.
A bounce in Chicago futures and a rise in Russian prices also helped underpin Euronext, which nonetheless held in its recent trading range.
Benchmark December milling wheat on the Paris-based Euronext exchange settled up 0.75 euro, or 0.4%, at 178.00 euros a tonne.
Algeria issued an import tender to buy milling wheat for shipment in January, except for South American origins for which shipment was sought in December, traders said.
The tender deadline is on Wednesday.
Fellow grain importer Tunisia also issued a tender to buy soft wheat, durum and feed barley, with a Tuesday deadline.
Physical wheat premiums in Rouen, France's biggest grain export hub, rose on Monday after news of the Algerian tender, brokers said.
But export sentiment was tempered by the fact the Algerian tender was seen as regular business for France, as well as by renewed competition from Russian wheat in top import market Egypt.
"The Algerian tender is already assumed to be a pretty much French affair. I don't think Argentine wheat will be in a position to take much share," one French broker said.
In Germany, cash premiums in Hamburg were stable, holding onto recent gains as the export mood remained positive.
Standard bread wheat with 12% protein for November delivery in Hamburg was offered for sale unchanged at 4.5 euros over Paris December futures. Buyers were offering up to 3.5 euros over Paris.
"Hamburg premiums remain well over Paris following recent strong German wheat export sales," on German trader said.
"With purchase wheat tenders in the market this week from Algeria, Jordan and Tunisia, there is hope more EU wheat will be sold."
Weekly EU data confirmed exports were running well ahead of last season's pace. EU soft wheat exports since the start of the 2019/20 season in July had reached 10.3 million tonnes, up 56% from a year ago.
Traders were monitoring autumn sowing in Europe and taking a relaxed view of rain delays despite expectations that some sowing intentions would go unfulfilled.
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