EU wheat recovers from lows with exports in focus

PARIS, April 25 (Reuters) - Euronext wheat futures rose on Friday after contract lows encouraged technical buying and rekindled export hopes, including possible French sales to Egypt, traders said.

September wheat BL2U5 settled up 0.8% at 209.75 euros ($238.53) a metric ton. It earlier reached a one-week high at 212.00 euros as it rebounded from a contract low of 206.25 euros on Thursday.

Front-month May futures BL2K5 ended down 0.1% at 209.25 euros after also hitting a one-week high as they moved away from a contract low on Tuesday.

The euro EUR= eased further from a 3-1/2 year high against the dollar struck on Monday, supporting the competitiveness of Western European wheat. FRX/

Like a month ago, when Euronext fell to one-year lows, this week's price fall stirred talk of interest in French wheat from major importer Egypt.

Traders said there was unconfirmed talk that at least one vessel of French wheat had been sold for shipment next month, though they cautioned previous rumours had not been followed by actual shipments.

Improving crop weather in major northern hemisphere production belts nonetheless continued to curb wheat prices, including in Chicago Wv1. GRA/

In Ukraine, conditions were improving after a cold start to April, leading to increased offers of new-crop wheat, according to traders.

“Cheap offers for Ukrainian new-crop feed wheat were seen this week," a German trader said.

“There was a lack of weather risk in Ukraine this week while the sharp moves in the dollar’s value made Ukrainian sellers more willing to agree deals in euros."

Ukrainian 2025 crop feed wheat was quoted around 203-205 euros a ton including delivery to north Germany, while quotes for delivery to the Netherlands as low as 198 euros a ton were heard.

In France, the state of soft wheat crops declined slightly last week, data from farm office FranceAgriMer showed, though traders expect rain in the past week to help crops after a dry start to spring.

In Germany, Rhine river levels have risen after rain this week, allowing vessels to carry more cargo and normal sailings with full loads in northern parts of the river, commodity traders said on Friday.

($1 = 0.8794 euros)