Western European wheat prices eased on Friday as traders awaited the outcome of a Saudi import tender and the return of rain to dry grain belts for pointers on export demand and harvests.
December milling wheat, the contract with the largest open interest on Paris-based Euronext, was down 1.00 euro, or 0.5%, to 192.00 euros ($207.30) a tonne at 1541 GMT.
Front-month May lost 1.25 euros to 198 euros, as it confirmed its pullback below the 200 euro threshold.
Euronext surged on Monday to its highest levels in more than a year, with spot prices peaking at 206 euros and December at 195.75 euros, as dry field conditions intensified and top exporter Russia signalled it would halt shipments before the end of the season.
However, prices on Euronext and French physical markets retreated as buyers saw the rally as overdone, while subsequent weather forecasts pointed to increased chances of rain across Europe next week.
"Wheat is trying to find its direction as we enter the spring weather market," a futures dealer said.
In France, 58% of soft wheat crops were rated good or excellent by April 20 against 61% a week earlier, farm office FranceAgriMer said, marking a second weekly decline in the rating that is at the lowest level in at least four years.
Concern about dry weather in France was tempered by forecasts showing showers next week may be more widespread than previously expected, including in parched northerly grain belts.
In Germany, traders were assessing the chances of German wheat in a tender by Saudi Arabian grain importer SAGO to buy 655,000 tonnes of wheat for delivery between July 1 and Aug. 30.
The tender closes on Friday, with results expected on Monday.
"With end August delivery the tender moves into the new crop and for the new harvest the Baltic States are up to four euros a tonne cheaper than Germany," one German trader said.
"Old crop supplies in Germany are heavily sold already and I think it will be difficult to quickly gather the high volumes in Germany needed for Saudi."
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