Western European wheat prices were little changed on Thursday in light trading as the market sought fresh impetus after an export-fuelled rebound in the past week. A steadier tone to Chicago wheat encouraged the European market to consolidate. Benchmark May milling wheat on Paris-based Euronext settled unchanged on the day at 189.00 euros ($214.44) a tonne.
It earlier rose to 189.75 but again stalled in the face of chart resistance at 190 euros, a level it touched on Tuesday when marking a near three-week high.
"The lack of volume and volatility is preventing prices from breaking the 190 euro resistance level," a futures dealer said.
A surge in French exports this month has helped Paris futures recover from a nine-month low, but traders said the market was now looking for fresh impetus.
A rise in the euro to a two-week high against the dollar this week has tempered export optimism in Europe.
Traders were also monitoring Russian efforts to gain access to Algeria's wheat market, the main export outlet for French wheat. Russia has sent a trial shipment of wheat to Algeria, its agriculture watchdog said on Thursday.
Flooding in the United States was being assessed for potential disruption to spring planting, but crop conditions remained broadly favourable in Europe.
In Germany, standard bread wheat with 12 percent protein for March delivery in Hamburg was offered for sale unchanged at around 6 euros over Paris May.
"Ships are regularly being loaded with German wheat exports which is keeping prices above Paris levels," one German trader said. "But this is mainly old business and the market lacks energy."
The announcement of a tender by Saudi Arabia to purchase 720,000 tonnes of barley drew attention to a market that has been depressed by an unusually long wait since Saudi state buyer SAGO's last barley purchase on Nov. 5.
"It is a great relief to see Saudi Arabia back as a buyer after such a long time of slack international barley demand," another trader said. "I would expect the Black Sea and European Union to be the main sellers."
There were no immediate signs of demand on the French barley market following the tender announcement but competitively priced French supplies were expected to be in contention, French brokers said. French physical prices were steady.
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