European wheat futures touched a new life-of-contract low as they hit by an export-punishing rally in the euro. December milling wheat on the Paris-based Euronext exchange is down 0.3 percent or 0.5 euro at 157.75 euros ($189.5) a tonne at 1621 GMT. The contract had fallen to a contract low of 156.50 euros earlier in the day. The strength in the euro, which touched its highest in more than two and a half years against the dollar, makes EU wheat more expensive in dollar-denominated global export markets. Markets have also been pressured by prospects of a bumper crop from Russia coming onto world markets.