European wheat prices rise on firmer US markets

28 Jul, 2020

PARIS: European wheat prices advanced on Friday, supported by firmer US markets, although the gains were capped after the euro hit a fresh 22-month high against the dollar.

Benchmark September milling wheat on the Paris-based Euronext was up 1.4% at 186.00 euros a tonne by 1505 GMT.

"There is strength coming from the rising Chicago market while the IGC (International Grains Council) yesterday was also a reminder that wheat supplies will not be as plentiful as had been previously thought," one German trader said.

The most-traded wheat futures on the Chicago Board of Trade (CBOT) were 2.3% higher at $5.41-3/4 per bushel.

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