Wheat futures on Euronext reached their highest level since September 1.

Wheat futures on Euronext reached their highest level since September 1, slightly exceeding the previous two-month maximum on Monday, driven by the weakness of the euro and speculation about Chinese demand for U.S. wheat. December delivery feed wheat futures, the most active on the Paris-based Euronext futures exchange, rose 0.5% to 194.75 euros ($227.12) per tonne, with traders also noting the closing of short positions by participants with large short positions in nearby futures. EUR/USD, according to traders, the price of French wheat fell to its lowest level in three months against the dollar, which helped maintain its leading position in the battle to increase sales volumes in the key Moroccan market. However, France's prospects in Egypt were less attractive, as rumors circulated in the market that its state grain buyer had purchased Black Sea wheat last week for November/December delivery. "The week began with Russian wheat becoming cheaper than in the western EU and the ...