EU wheat edges down after USDA data

PARIS, Sept 30 (Reuters) - Euronext wheat ticked down on Wednesday as a bigger-than-expected estimate of US corn stocks weighed on grain markets.

Persisting concerns about Black Sea wheat supply, amid continuing attacks in Russia's war with Ukraine, nonetheless underpinned prices, traders said.

Benchmark December milling wheat on Paris-based Euronext settled 0.1% down at €236 ($267.53) a metric ton after the day session.

The contract earlier rose to €239.25, its highest in almost a week, as it extended a bounce from Tuesday's six-week low of €231.50.

Over September, December futures were down 3.8%, after prices retreated from a contract high of €259.25 at the start of the month.

Chicago wheat dropped more than 2% as corn plunged nearly 4% after the US Department of Agriculture estimated quarterly US corn stocks above average market expectations. GRA/

Wheat markets have wrestled this month with war disruption to massive Black Sea trade.

After hopes of de-escalation weighed on prices, the absence of a diplomatic breakthrough helped prices to steady this week.

Consultancy Sovecon said on Wednesday it had cut its Russian wheat export forecast for this season by 4.7 million tons to 36.7 million tons, as it saw normal port operations in the Azov-Black Sea region resuming no earlier than 2027.

Pakistan booked 180,000 tons of wheat in an import tender, according to traders, with the results confirming lower prices compared with a previous Pakistani tender earlier this month.

In France, a vessel is due to call at Dunkirk later this week to load wheat for Yemen, LSEG data showed. This follows the first French wheat shipment for Yemen in four years last week.

Widespread rain in France on Wednesday, including storm showers in the south, was set to alleviate recent drought, though dry weather was set to return in northern plains for the rest of the week.

Financial investors last week reduced their net long position in Euronext wheat for a second straight week, data from the exchange showed on Wednesday.

($1 = 0.8821 euros)