January 27, 2006	Friday	Zilhaj 26, 1426

PARIS, Jan 26: The European Union on Thursday lowered the volume of its free-market wheat exports by around 50,000 tons to 375,000 and dropped the subsidy per ton to 6.74 euros from nine amid aggressive bidding at the weekly tender.

French wheat futures closed firmer, with front month March up 0.75 euros at 112.00 euros a tonne. May was up a similar amount to 113.00 euros a ton.

Official figures showed traders had placed bids for a hefty 1.6 million tons of free-market wheat at the tender with requested refunds ranging between 6.49 and 10.97 euros a ton.—Reuters