European wheat prices edged higher in late trade on Thursday after spending most of the day nearly unchanged due to a lack of new fundamental elements to give a clear direction to the market, traders said. December milling wheat on Paris-based Euronext unofficially closed 0.3 percent higher at 166.50 euros a tonne.
On the cash market the export premium continued to rise slightly - up 0.25 euro delivered to Rouen compared to the previous day - even if it continued to be negative. "The problem of a lack of demand, notably on the export market, remains but at the same time it is difficult to find wheat to meet demand," a broker said.
Another added that the there was no selling pressure because of the incoming maize crop since recent rainfall has led to a slowdown in the harvest. Operators will keep an eye on the European Union's grain export and import data, which were delayed after the market close on Thursday with no reason given.
The European Commission increased its monthly estimate of 2017/18 usable soft wheat production in the EU by 1 million tonnes to 140.4 million tonnes, up from 133.7 million tonnes in 2016/17, it said in a crop report released on Thursday.