EU wheat in technical bounce, Russia competition limits upside.

European wheat futures rise as chart support, a weaker euro and firm Chicago prices encouraged the market to recover from a one-week low in the previous session. Traders are cautious about further gains in the short term given export competition from Black Sea origins, as shown by another purchase of Russian wheat by top importer Egypt. December milling wheat on Paris-based Euronext closed 1.50 euros, or 0.9 percent, higher at 167.00 euros a tonne.