EU wheat extends gains on bargain buying, activity low.

European wheat extended gains recorded in the previous session, supported by bargain buying by industry players as prices have fallen near production costs. However, activity remained low with small volumes traded. Looking to the next season, European farmers are expected to sow more rapeseed for the 2018 harvest, but uncertainty remains about whether planting intentions will be carried out. For wheat, France area may decline slightly after peaking at an 80-year high of just over 5 million hectares in the past couple of seasons, although a significant swing is not expected. In Chicago wheat futures edged higher but gains linked to worries about dry conditions in Australia and excessive rain in Argentina were capped by plentiful global supplies and a large Russian harvest. In Germany cash premiums in Hamburg were flat with the market lacking impetus as export demand remains weak.