EU wheat ends lower as firmer euro heightens export concerns.

European wheat prices were slightly lower after a rise in the euro against the dollar added to concerns about the sluggish pace of exports. Benchmark December milling wheat on Paris-based Euronext closed 0.25 euros down at 201.75 euros a tonne in thin trade, with many international traders at a conference in Geneva. The euro and sterling both firmed after the European Union and Britain agreed a draft text of a Brexit withdrawal agreement. EU soft wheat exports in the 2018/19 season that started on July 1 had reached 5.9 million tonnes by Nov. 11, down 24 percent from 7.8 million tonnes at the same stage last season. A pick-up in exports is expected later in the season when supplies from Russia become more scarce and less competitive while crop problems in Argentina could also boost the outlook. Expected rainfall in Argentina will hit wheat crop quality and are expected to delay shipments this month, which could benefit French wheat as part of Algeria’s tender for December delivery.