European wheat futures in Paris fell in light trading on Wednesday under pressure from a slide in US markets, although the weaker trend in the euro kept losses in check.
Benchmark December milling wheat on the Paris-based Euronext exchange settled down 0.75 euro, or 0.4%, at 177.50 euros ($195.61) a tonne.
It remained its recent consolidation range, with a strong support zone around 176-177 euros, dealers said.
"The market is treading water a bit," one dealer said. "The euro going below $1.10 has helped offset downward pressure."
Volumes were curbed by the absence of some traders who were attending the Global Grain conference in Geneva.
A further increase to farm office FranceAgriMer's forecast of French soft wheat exports outside the European Union this season, to 12 million tonnes from 11.7 million previously, drew little immediate reaction.
"I'm not too sure about 12 million tonnes in exports," a futures dealer said. "With Russia still expected to export 33 million to 35 million tonnes, it looks tough for France to reach 12 million."
In Germany, cash premiums in Hamburg were firm as German export demand remained strong.
Standard bread wheat with 12% protein for November delivery in Hamburg was offered for sale at 2.50 euros over Paris December against 2.00 euros over on Tuesday.
Polish markets were again firm in the last week due to strong export demand, a large lineup of ships loading in Polish ports plus a lack of sales offers from farmers.
"Export demand is running the show and domestic market prices are rising but with some delay," one Polish trader said.
One ship is loading 33,000 tonnes of Polish wheat in the port of Swinoujscie for Tanzania. Two other ships are each loading 60,000 tonnes of wheat for Saudi Arabia in Gdansk/Gdynia.
Another ship has just left Gdansk with 33,000 tonnes of Polish wheat for Casablanca. "Morocco is a market which is dominated by imports of French wheat and it was encouraging to see this sale," a trader said.
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