Benchmark
September milling wheat on Paris-based Euronext closed 0.8% higher at 215 euros
($249.44) per metric ton. Market
participants noted that reports of China agreeing to purchase additional U.S.
grains and soybeans require further details to maintain support. Several
traders and analysts pointed out the absence of specifics regarding the
agreement and confirmation from China.
“The news
that China has agreed to buy more U.S. grains and soybeans needs more details
to stay supportive,” one German trader said.
“Sometimes the devil is in the detail,” a French trader said.