EU wheat eases with Chicago as export worries persist

PARIS, Feb 20 (Reuters) - Euronext wheat futures eased on Thursday as Chicago prices retreated from multi-month highs and concern about lagging exports hung over the European market.

May futures BL2K5, the most-active contract on Euronext's wheat market, were down 0.4% by 1646 GMT at 236.75 euros ($247.90) a metric ton after touching a two-week low at 236.00 euros.

Front-month March wheat BL2H5 was down 0.2% at 227.75 euros a ton after setting a new three-week low at 227.00 euros.

Chicago wheat Wv1 fell as fears over frost damage to U.S. crops subsided and a rally in corn lost impetus. GRA/

In Europe, a rise in the euro EUR= reinforced negative export sentiment, despite ebbing supply in Russia were countered.

"EU wheat exports continue to struggle," British merchant Frontier Agriculture said in an note. "French wheat remains uncompetitive and a heavy carry out looks increasingly likely."

Morocco was seen as the best prospect for French exports outside the EU, though competition remained tough.

"French wheat isn't far off being price competitive in Morocco but there always seems to be a cheaper origin offered," a futures dealer said, noting that a large vessel of Argentine wheat was set to load for Morocco.

($1 = 0.9550 euros)