EU wheat rebounds as U.S. weather rally offsets strong euro.

European wheat futures rose, recovering from a two-month low in the previous session, as a U.S. rally fuelled by poor weather for spring wheat offset strength in the euro and improving crop conditions in western Europe. Front-month September milling wheat on the Paris-based Euronext market unofficially closed 0.7 percent higher at 166.75 euros a tonne after rising as high as 167.50 euros. However, the trend remains bearish with improving crop prospects after the recent rain. The euro was firm against the dollar to trade close to a near seven-month high.