EU wheat steadies with Algeria tender and Black Sea news in focus
WEAT•EU exports and French crop estimate
Weekly European Union data showed the bloc's soft wheat exports had reached 5.61 million tons so far this season, down 2% from a year ago, though figures for several countries remained incomplete.
In France, the farm ministry cut its estimate of this year's soft wheat harvest by 200,000 tons to 31.7 million tons, 5% below last year's volume.
($1 = 0.8666 euros)
Euronext wheat steadies after two-week low
PARIS, Sept. 15 (Reuters) - Euronext wheat edged up on Tuesday, steadying after a two-week low as hopes of military de-escalation in the Black Sea were tempered by further attacks, while an Algerian tender brought some fresh demand, traders said.
Benchmark December wheat BL2Z6 on the Paris-based Euronext exchange settled 0.2% up at €241 ($278.11) a metric ton.
It earlier fell to €238, equalling a 2-1/2-week low from Monday, before again finding support at that level.
Chicago wheat Wv1 also steadied.
Black Sea tensions and Algeria tender shape trade sentiment
Wheat markets were pressured on Monday when U.S. President Donald Trump said Ukraine and Russia had agreed not to hit each other's energy infrastructure.
The statement stirred expectations of possible de-escalation that could also alleviate disruption to Black Sea grain trade.
But Russia and Ukraine both set conditions for accepting an energy truce while continuing strikes on each other's infrastructure on Tuesday.
"The Black Sea headlines today have again been about diplomacy or some form of talks, which in turn continue to raise hopes about some form of safe shipping deal," a German trader said.
