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Paris wheat futures fall to 2-1/2-month low

Paris wheat futures fell for a third straight session on Wednesday to hit a new 2-1/2 month low as the market continued to focus on the impact of Europe’s large harvest. The European market failed to find support from Chicago futures, which saw hesitant trading as investors turned their attention to the US Department of Agriculture (USDA) August 12 crop report. That is keenly awaited for updated estimates after corn and soybean plantings during a rain-soaked spring. Benchmark December milling wheat on the Paris-based Euronext was down 1.50 euros, or 0.9%, by 1513 GMT at 174.00 euros ($195.16) a tonne, its weakest since May 14. After breaking several support levels this week, the contract was approaching a life-of-contract low at 171 euros.



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