PARIS: Euronext wheat edged down on Wednesday as a sharp fall in Chicago encouraged Paris prices to consolidate after a five-month high a day earlier. A fall in the euro to its lowest level since late July against the dollar limited the drop on Euronext, while a price rally in top wheat exporting country Russia continued to underpin the market, traders said.

Front-month December milling wheat, the most active contract on Paris-based Euronext, settled down 0.75 euro, or 0.4%, at 194.00 euros ($226.71) a tonne. The contract had risen on Tuesday to 195.75 euros, its highest since April 23, but faced chart resistance around that level.

Chicago wheat was pressured by a rising dollar, which turned attention to limited US sales during a recent flurry of purchases by importing countries. Non-commercial market participants increased their net long position in Euronext's milling wheat futures and options last week, data published by Euronext showed.