Euronext wheat prices were little changed on Thursday, holding below a one-week high hit a day earlier in hesitant trading before a closely watched US government report. March milling wheat on the Paris-based Euronext exchange was unchanged on the day at 160.25 euros a tonne by 1618 GMT.
The US Department of Agriculture is due to issue its latest world supply and demand report at 1700 GMT. An easing in Chicago wheat after six-month top encouraged spot prices on Euronext to consolidate below Wednesday's high of 160.75 euros.
Weekly European Union data showed the bloc's soft wheat exports were running 18 percent behind last season's level. The EU data also showed that the weekly volume of soft wheat exports at just 157,000 tonnes was below weekly barley exports for the first time this season.
Brisk export demand for barley was also shown by higher February cash premiums in northern French ports for barley compared with wheat, reversing the usual price situation. In Germany, cash market premiums firmed following a moderate rise in demand.
Standard bread wheat with 12 percent protein content for February delivery in Hamburg was offered for sale at 5.5 to 6 euros over Paris March against 5 euros over on Wednesday. "A fair slice of the 739,000 tonnes of wheat bought by Saudi Arabia in its tender on Monday is expected to be sourced in Germany and this could be reflected in increased demand," one German trader said.
"But port loadings in the Saudi tender do not have to take place until April so exporters have a lot of time to buy what they need. They are expected to buy gradually in coming weeks." Main demand is again coming from the animal feed industry, with feed wheat again quoted over milling wheat.
Feed wheat prices in Germany's South Oldenburg market were just above milling wheat, with February onwards delivery offered for sale at 168 euros a tonne with buyers seeking 167 euros. The large premium over milling wheat held by feed wheat in early January has now been cut by increased offers of milling wheat for feed use.
Feed wheat futures in London were lower, weighed by a stronger pound, with May down 1.4 percent at 138 pounds a tonne. A blanket of snow has protected wheat and other grain crops in major European producers from a dramatic cold snap this week, but double-digit frosts are causing concern in Germany, experts said on Thursday.
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