PARIS: Euronext wheat fell for a third session on Wednesday as traders focused on Black Sea competition in large purchases by importers while seeing weather damage to Russian crops as priced in.
September wheat on Paris-based Euronext settled 1.6% lower at 254.25 euros ($276.24) a metric ton.
It earlier fell to 253.75 euros, its lowest since May 20 and below a previous two-week low struck on Tuesday.
Euronext also tracked weakness in Chicago wheat, which was pressured by a stronger dollar and the start of the US harvest.
Combined purchases of more than 1.2 million tons of wheat by Algeria and Egypt in tenders on Tuesday failed to boost sentiment as traders saw competitively priced grain from the Black Sea region dominating the sales.
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