PARIS Dec 6 European wheat futures were little
moved in thin trade on Wednesday, in step with U.S. grains
prices, remaining supported by tight local supplies despite
downward pressure due to disappointing U.S. export data.
* January milling wheat on the Paris futures market
was unchanged at 268.75 euros a tonne by 1336 GMT.
* Next contract March was also unchanged at 267.00,
below resistance at 269.00 euros, traders noted.
* EU prices pared gains as U.S. weekly export data for wheat
that was near the lower end of analysts's expectations and poor
figures for corn pressured futures in Chicago.
* European prices remained supported by tight global
* The wheat harvest in grains powerhouse Argentina is
expected to be smaller than expected and of poorer quality this
season as farmers slog through waterlogged fields, trying to
save their crops from toxic fungi bred by too much rain.
* Talk is increasing in the market that the world's
fifth-largest exporter could restrict sales in the coming weeks,
analyst FCStone said.
* Argentina, which curbs wheat and corn exports to ensure
ample domestic supplies of food, has freed 6 million tonnes of
2012/13 wheat for overseas shipment but some doubt they will
allow the full amount.
* "To our knowledge they already granted 5 million tonnes
and they could keep it there," one trader said. "There is a real
supply problem in the Mercosur region."
* Brazil said on Thursday it expected wheat production,
which was hurt by strong rains in the southern part of the
country during harvest period, to fall to 4.46 million tonnes,
down from last year's 5.7 million tonne crop.
* Some traders said a small dip at the end of the week could
not be excluded before grain markets start to focus on next
Tuesday's world supply-and-demand estimates from the U.S.
(Reporting by Valerie Parent; Writing by Sybille de La Hamaide;
Editing by Anthony Barker)