Weather maps showed rains for western parts of the Caucasus in Russia, where a lack of rain in March and April has provoked worries for crops, notably the winter wheat of which the region is a major provider of supplies for export.
While eastern and northern parts of the region look like staying dry, the improved outlook fuelled some profit-taking in wheat markets which rose steeply, led by a near-10% rise in Chicago wheat.
Chicago wheat futures for July-24 stood down 2.1% in late morning deals, while in Paris, best-traded September milling wheat settled 2.2% down.
In London, feed wheat for May-24 eased by 0.6%, with the more liquid November-24 contract settling 1.3% lower, although remaining above the much-watched €/t mark.
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