EU wheat market slips after USDA data

PARIS/HAMBURG, Nov 14 (Reuters) - Euronext wheat closed slightly lower on Friday, tracking weakness in Chicago after delayed U.S. data projected larger-than-expected corn and wheat supplies, as well as relatively small U.S. export sales to China.

Front-month December wheat BL2Z5 on Euronext settled 0.7% down at 188.25 euros ($219.54) a metric ton, while second-month March futures BL2H6 also ended 0.7% lower, at 192.50 euros.

In a highly anticipated raft of U.S. Department of Agriculture data held up by a government shutdown, the USDA pegged the bellwether U.S. corn crop above average expectations, while also projecting U.S. wheat stocks above the average trade estimate.

A backlog of daily export sales that was also released confirmed 332,000 tons of U.S. soybean sales to China since last month.

But the volume remains limited compared with Washington's expectation that Beijing will book 12 million tons by end-December, while the USDA's data did not indicate recent U.S. wheat sales to China as reported by traders last week .

Chicago wheat Wv1 was down nearly 2% while corn Cv1 slid by around 2.5%. GRA/

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.

($1 = 0.8575 euros)