UPDATE 1-EU wheat prices rise on surge in CBOT corn, soy
(Adds quotes, updates prices)
LONDON, April 27 (Reuters) - European milling wheat futures rose on Friday as Chinese demand for U.S. corn and soybeans helped to spark a broad-based advance in grain and oilseed prices.
* U.S. corn surged about 4 percent while soybeans hit $15 a bushel for the first time in nearly four years, pulling wheat futures along in their wake.
* May milling wheat in Paris was 3.50 euros or 1.7 percent higher at 214.50 euros a tonne by 1605 GMT, while new crop November was up 3.25 euros at 203.75 euros.
* "The rise is mainly due to the sales of U.S. corn which are exciting the market," Antoine Gautier of French consultancy Offre & Demande Agricole said.
* The U.S. Department of Agriculture on Friday confirmed the largest one-day sale of U.S. corn since 1991. The sale totalled 1.56 million tonnes, and while USDA did not identify the buyer grain traders said the bulk of it was bound for China.
* The USDA also said that exporters sold 110,000 tonnes of U.S. soybeans to China and 116,000 tonnes to an unknown destination for 2012/13 delivery, a fresh sign of strong demand for U.S. soy amid ailing harvest prospects in South America.
* May feed wheat futures in London rose 2.10 pounds or 1.2 percent to 179.50 pounds a tonne.
* "Exporters have been unable to make new sales, but continue to execute existing contracts. Milling premiums are no better, and in some areas are non-existent," Openfield said in a market note on Friday.
* German feed wheat was again quoted way above bread wheat prices with the continuing demand from animal feed makers helping to keep Germany's market way above Paris.
* Unconfirmed market talk continued that a rare shipment of about 60,000 tonnes of Romanian feed wheat is bound for Germany or a neighbouring north European country.
* Standard milling wheat for May delivery in Hamburg was offered for sale up 2 euros at 234 euros a tonne with buyers at around 232 euros, with prices firmed by the Paris and Chicago strength. But dealing was difficult as producers preferred to sell milling wheat for feed.
* Feed wheat for nearby delivery in the South Oldenburg animal feed grains market near the Netherlands was again offered for sale way above milling wheat, up 1 euro at 240 euros a tonne with buyers at around 238 euros.
* German new crop prices are well below old crop. Standard milling wheat for Hamburg delivery in September was offered for sale up 2 euros 213 euros a tonne with buyers at 211 euros.
* "Milling wheat is again going for feed today," one German trader said. "There is talk that feed makers have started buying from the Black Sea region, with a big ship of feed wheat possibly arriving from Romania, but this is not cooling prices yet."
* "Some dealers have the attitude that even if a large shipment is on the way from Romania it will only provide relief for a week or so and that feed makers will have to start buying again. Old crop supplies are tight."
* German prices were also supported by continued purchasing interest by Poland, with Polish dealers mainly active in east German regions.
* German new crop prices are well below old crop. Standard milling wheat for Hamburg delivery in September was offered for sale up 2 euros at 213 euros a tonne with buyers at 211 euros.
* Polish wheat prices dropped in the last week as traders booked imports from surrounding countries including Germany, Denmark, Hungary and the Czech Republic.
* Standard milling wheat ex store was quoted around 1,000 zloty (235 euros) in much of the country, down about 2 to 3 euros on the week.
* Polish farmer selling has been restrained since heavy frosts in February caused heavy damage to crops in some regions, causing some observers to cut forecasts of Poland's 2012 harvest.
* "Polish mills and feed makers had been maintaining only limited advanced supply cover before the frosts and have been taken by surprise by the lack of old crop farmer sales," a trader in Warsaw said. "Farmers have been using poorer wheat grades as seed, which has further tightened feed supplies as seed producing areas were among those hardest hit by frosts."
* "A lot of imports have been booked recently and the arrivals have helped to cool the market a little this week. Poland has been buying from places it normally exports to, including Germany, Austria and Denmark."
* Rapeseed prices were higher, boosted by prospects for a small harvest in the EU this year and surging U.S. soy values.
* August rapeseed was up 6.25 euros or 1.30 percent at 486.50 euros.
* Analyst Strategie Grains forecast the crop would fall to a six-year low of 17.6 million tonnes, below the current outlook of Oil World. (Reporting by Nigel Hunt in London, Michael Hogan in Hamburg and Gus Trompiz in Paris; Editing by Alison Birrane)
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