Subdued EU wheat market awaits U.S. data, shrugs off Russian port attack

PARIS/HAMBURG, Nov 14 (Reuters) - European wheat futures were steady on Friday as traders focused on the release of delayed U.S. grain data and saw no impact on grain flows from an attack on a major Russian port.

Front-month December wheat BL2Z5 on Euronext was down 0.1% at 189.25 euros ($220.70) a metric ton, while second-month March futures BL2H6 were also 0.1% lower, at 193.50 euros.

Grain markets were awaiting direction from U.S. government data due later on Friday following the end of a federal shutdown. The U.S. Department of Agriculture will publish its first supply and demand report since September, along with a backlog of daily export sales announcements.

The expiry of options against Euronext December futures on Monday was also continuing to lead participants to shift positions towards March.

Wheat markets got some support earlier in the session from news that a Ukrainian drone attack caused damage at the Russian Black Sea port of Novorossiysk, with some debris falling on a grain terminal.

But while the attack led to the suspension of oil shipments, supporting a rally in oil prices, grain traders saw no sign that large wheat trade from the port was disrupted.

“Novorossiysk grain shipments are only slightly delayed because of the general disruption following the attacks but all grain infrastructure seems to be working, the loadings are continuing,” said one German trader involved in grain shipments from Novorossiysk.

Ample global supply, which is set to be further bolstered by bumper harvests in Argentina and Australia, remained a curb on wheat prices.

Argentina's wheat harvest for the 2025/26 cycle is expected to reach a record 24 million metric tons, the Buenos Aires Grain Exchange said on Thursday, a day after the country's Rosario Grain Exchange also forecast a record crop.

In France, 98% of soft wheat was rated as being in good or excellent condition as of Monday, farm office FranceAgriMer said as farmers wrapped up sowing.

In Germany, wheat exports remained modest, with only one large loading so far in November of about 50,000 tons for Nigeria.

Germany’s November barley shipments were brisk, however, with 65,000 tons loaded for Saudi Arabia, 30,000 tons for Algeria and two totalling 80,000 tons for Turkey.

($1 = 0.8575 euros)