Euronext wheat was little changed on Tuesday as traders assessed diplomatic efforts to reduce attacks in Russia's war with Ukraine while factoring in a weaker euro against the dollar.
December wheat on Paris-based Euronext settled unchanged on the day at €243.75 ($278.68) a metric ton after the main session.
An almost two-month low for the euro EUR= against the dollar underpinned Euronext.
Chicago wheat eased.
Wheat markets continued to digest headlines about Russia's war with Ukraine, which has choked Black Sea exports from the two major grain-producing countries in recent weeks.
This week's UN General Assembly has put attention back on the idea of a pause in attacks on energy infrastructure, though continued attacks on ports and vessels have tempered expectations of a recovery in shipping.
At the same time, Russian exports via alternative routes and a cautious approach from buyers were tempering expectations of a shift in demand towards European suppliers.
"The fact we haven't seen a clear export programme for the coming months is starting to disappoint some people with long positions," one futures broker said.
"Egypt is being pretty discreet," he added, referring to one of the world's biggest wheat importers.
Recent sales by European farmers, reacting to multi-year highs for grain prices after several lean years, have also curbed the market, traders said.
Weekly European Union data showed the bloc's soft wheat exports so far in 2026/27 were down 2% from a year ago at 6.3 million tons, though figures for several countries, including France, remained incomplete.
($1 = 0.8747 euros)
(Reuters)
