Euronext wheat steadies after fall

European wheat futures edged up on Friday after a two-day drop, with a slight easing in the euro and cold weather forecast in Argentina lending support, dealers said. December wheat (BL2Z5) on Euronext’s Paris-based market settled 0.8% up at 189.25 euros ($220.99) a metric ton. It earlier equalled Thursday’s one-week low of 187.25 euros before recovering. Over the week, the contract was unchanged. Grain traders were also watching developments in U.S.-Chinese talks over their trade standoff and renewed moves by U.S. President Donald Trump to end the war between Russia and Ukraine. December led gains on Euronext, with dealers pointing to short-covering by investment funds that have a large short position concentrated in the front month. “There seems to be renewed covering of December positions, perhaps because of the cold weather risks in Argentina,” one futures dealer said. A cold front forecast over Argentina’s agricultural heartlands next week could affect wheat yields, the ...