EU wheat consolidates near lows as Algeria tender awaited

PARIS – Euronext wheat set new contract lows on Monday before steadying as a pre-weekend slide in U.S. grain futures weighed on the market, while traders awaited direction from a tender to be held by major importer Algeria. March milling wheat on Paris-based Euronext settled 0.4% up at 216.75 euros ($237.34) a metric ton. It earlier edged down to a latest life-of-contract low at 215.00 euros, also a five-week low for a front-month price , but again found chart support around 215-216 euros. Volumes were moderate as a U.S. holiday closure removed the usual impetus from the European session. Chicago wheat fell on Friday, dragged down by corn and soybeans after the U.S. Department of Agriculture projected larger U.S. supplies…