Euronext wheat ends week lower

PARIS, Feb 6 (Reuters) - Euronext wheat fell on Friday to post a weekly fall as participants made adjustments in front-month futures while a firmer euro dented export prospects.

March milling wheat BL2H6 on Euronext settled 1.8% down at 190.00 euros ($224.45) a metric ton. Over the week, the contract was 2.2% lower, after retreating from a 2-1/2 month high of 194.75 euros on Tuesday.

Some participants were exiting the front-month position and rolling positions towards May futures BL2K6, for which open interest is now larger than for March, dealers said.

May futures ended 0.9% down at 190.50 euros.

The euro EUR= rose against the dollar on Friday, making European grain more expensive for export at a time of strong competition from Black Sea and Argentine origins. FRX/

Traders noted increased purchase interest from major importer Egypt ahead of the Ramadan period later in February.

But Black Sea export countries held a price advantage over western Europe, tempering reaction to talk this week about recent sales of French wheat to Egypt.

“Market estimates are that Russia shipped just over 900,000 tons of wheat to Egypt in January, showing Russia had a firm grip on recent Egyptian purchases,” a German trader said.

Egyptian purchase interest for Black Sea 11.5% protein wheat for February shipment was reported at $247-$253 a ton, cost and freight (c&f) included, to Egypt.

Ukrainian 11.5% protein wheat on Friday was quoted at about $247 a ton c&f Egypt, with Russian close at $248. French wheat was around $254 c&f depending on euro and Euronext strength, above Romanian at $252, the trader said.

Chicago wheat Wv1, a global benchmark, also eased. GRA/

Wheat was curbed by a backdrop of ample supply, after finding mid-week support in a rally for soybeans, sparked by U.S. President Donald Trump's comments that China would expand purchases of U.S. soybeans.

Easing concerns about severe cold in northern hemisphere wheat belts also removed support for prices.

($1 = 0.8465 euros)