European wheat futures rose on Thursday, with support from an upturn in export demand, but price movement was limited by a lack of direction from U.S. markets, which were closed for the Independence Day holiday.
* November milling wheat on the Paris futures market was up 1.50 euros or 0.77 percent at 196.25 euros a tonne by 1245 GMT in thin volume of just 5,000 lots.
* The benchmark contract was moving away from a one-year low of 192.50 euros set on Tuesday, but as in the previous session it stalled at a chart resistance zone around 196-197 euros, dealers said.
* "We're lacking real drivers," one dealer said. "As soon as we have some buying interest, we get pressure from the maize market or from good weather that is helping harvesting."
* The recent lows on wheat markets have spurred a series of purchases by importing countries this week, with crisis-hit Egypt returning to the market after a long absence and China snapping up large volumes of Australian and U.S. wheat.
* "The lower price level appears to be luring in buyers - as in the case of China - which suggests that a price recovery is imminent," Commerzbank analysts
said in a note.
* Traders again reported Chinese interest in importing wheat, as it responds to a rain-damaged harvest, but no fresh deals were confirmed.
* In a tender result, traders said on Thursday that Jordan had bought 100,000 tonnes of wheat, comprising 50,000 tonnes of Ukrainian and 50,000 tonnes of optional-origin wheat.
* The rebound on wheat markets was modest given prospects for ample supply from this year's grain harvests.
* The European Union on Thursday raised its forecasts for this year's wheat, barley and maize crops in the 28-member bloc.
* Separately, the United Nations food agency increased its outlook for global wheat and maize production, and predicted lower and more stable prices in the season ahead.
* Paris futures prices in Euros per tonne, London wheat in pounds per tonne and CBOT in cents per bushel.
