Paris wheat futures rise after Egypt buys from France

Paris wheat futures rose on Thursday as a large sale of French wheat to Egypt in an international tender underscored strong export activity and took attention away from flagging domestic demand during the coronavirus epidemic.

May milling wheat on the Paris-based Euronext exchange was up 1.75 euros, or 0.9%, at 196.50 euros ($212.95) a tonne at 1614 GMT, regaining some ground after falling in the previous two sessions.

It earlier gained as much as 3.25 euros after Egypt's state grain buyer GASC said it bought 240,000 tonnes of wheat in an international tender, including 180,000 tonnes of French supplies.

The sizeable purchase boosted export sentiment after disappointment over a smaller purchase of Russian wheat by GASC in a previous tender on Tuesday.