European wheat prices in Paris rose on Tuesday following firm US markets up, with support also coming from prospects of a duty on Russian grain exports. Benchmark March milling wheat on the Paris-based Euronext market was up 1.50 euros or 0.7 percent at 201.50 euros a tonne at 1640 GMT.
"With a euro at $1.21, EU wheat prices are interesting (to buyers) and the situation in Russia should mainly benefit Europe, along with Argentina," a Euronext trader said.
Traders were awaiting more details about Russia's plans to impose duties on grain exports to defend domestic bread supplies.
Traders noted that Algeria had not yet returned to the market after postponing an international tender last week to buy milling wheat as Russian curbs on exports disrupted trade.
Euronext grains markets will halt trade at 1300 GMT on Wednesday and remain closed on Thursday and Friday for Christmas.
German cash wheat premiums in Hamburg were weaker, marked down to compensate for the rise in Paris, with pressure on sellers to keep premiums low to enable German exports as Russia pulls out of world markets.
Standard wheat with 12 percent protein content for delivery in Hamburg in January was offered for sale at 4 euros over the Paris January contract against 5 euros over on Monday. Buyers were offering 2 euros over Paris against 3 euros over on Monday.
German cash markets close for the Christmas break on Tuesday evening and reopen on Monday, December 29. Polish prices were pushed up in the last week by brisk export demand. Exporter purchase prices for milling wheat with 12.5 percent protein content rose by around 10 to 30 zloty (2.3 to 6.9 euros) on the week to around 830 zloty a tonne (194.0 euros) for January delivery to port silos. Buying offers for wheat with 11.5 percent protein are 20 to 25 zloty a tonne below 12.5 percent wheat.
Polish mills increased purchasing prices by 20 to 30 zloty a tonne for 12 percent protein wheat to 740 to 790 zloty a tonne for immediate delivery to mills.
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