EU wheat steadies

PARIS: Euronext wheat edged up on Friday after a two-session slide, supported by reports of fresh Chinese demand for French grain.

A bounce in Chicago futures after a one-month low also underpinned Euronext. March milling wheat on the Paris-based Euronext exchange was up 0.75 euros, or 0.3%, at 283.25 euros ($320.19) a tonne by 1559 GMT.

Gains were curbed by a chart gap created during Thursday’s fall that was now acting as a resistance, brokers said.

Trade sources told Reuters that Chinese buyers had booked since last week a large amount of wheat and barley from France, along with Ukrainian corn and barley and Australian wheat.

There was also talk of further interest from Chinese buyers for French grain in the past day, although it was unclear if additional volumes had been purchased, according to traders.