EU wheat slips to new lows as USDA data adds to supply pressure

PARIS, Sept 30 (Reuters) - European wheat futures fell to fresh contract lows on Tuesday as U.S. stocks and production estimates reinforced expectations of ample supply across major exporting countries.

December milling wheat BL2Z5, the most-active position on Paris-based Euronext, settled 1.2% down at 186.25 euros ($218.81) a metric ton.

It earlier hit a contract low at 186.00 euros after moving below a previous low of 187.75 euros last week.

Over September, the contract posted a 4% decline, its seventh straight monthly fall.

In widely followed grain data, the U.S. Department of Agriculture pegged U.S. quarterly wheat stocks and 2025 U.S. wheat production above average analyst expectations.

The estimates pushed Chicago wheat Wv1 down more than 2% to approach contract lows. GRA/

Swelling harvest supply worldwide has encouraged investment funds to build a large short position in Euronext wheat.

"December MATIF (Euronext) wheat remains stuck in its downward trend," said Donatas Jankauskas, analyst at commodity data firm CM Navigator.

There was potential for a bounce as technical indicators show the contract is approaching oversold territory, "but unless bulls clear 192–193.25 euros (recent highs), bears are firmly in charge", he said.

A rise in the euro, which was recovering from a three-week low against the dollar on Thursday, added to pressure on Euronext as traders saw limited short-term export demand.

Weekly European Union data showed the bloc's soft wheat exports so far in 2025/26 were down 31% from a year earlier, though the gap was partly due to incomplete figures for France.

Jordan made no purchase in an international tender seeking 120,000 tons of wheat, traders said.

In oilseeds, November rapeseed COMX5 on Euronext settled 0.2% higher at 466.00 euros a ton, recovering from a near three-week low at 464.00 euros earlier in the day.

Over the month, the contract was 0.8% higher.

($1 = 0.8512 euros)