PARIS/HAMBURG, June 11 (Reuters) - Euronext wheat was little changed on Thursday as grain markets paused after a rebound from multi-month lows earlier in the week, and awaited further direction from U.S. government crop forecasts later in the day.

September milling wheat BL2U6 on Paris-based Euronext was flat at €203.25 ($234.25) a metric ton by 1323 GMT.

The benchmark contract had risen in the two previous sessions to recover from a 3-1/2-month low on Monday.

Traders are watching to see if the U.S. Department of Agriculture makes revisions to drought-affected U.S. wheat production, or adjusts forecasts for other countries in its monthly world crop report at 1600 GMT.

In Europe, expectations of a good harvest hung over the market, with favourable June weather expected to limit the impact of a heatwave last month.

Commodity data firm Expana raised its forecast for European Union soft wheat production in 2026/27 on better prospects in Romania.

That followed an upward revision by grain trade association Coceral to its outlook for EU soft wheat output.

In Germany, the farm cooperatives association raised slightly its forecast of the country's 2026 wheat crop after beneficial rains, although the projection was still down 2.2% on last year's large crop.

Export demand remained thin with buyers continuing to delay purchasing in the hope that any U.S.-Iran peace deal will push commodity prices down, according to traders.

Traders said Ukrainian 11.5% protein wheat is currently seen as the cheapest at around $233-$235 a ton free on board for July loading, but with French and Russian very close behind, both only about $1-$3 above Ukrainian prices.

An Italian buyer was seeking about 10,000 tons of Black Sea feed wheat at around $242 a ton cost and freight included for July/August shipment, while a Greek buyer was seeking about 10,000 tons of feed wheat at around $240 a ton c&f for August shipment.

Prices at 1323 GMT
	Last	Change	Pct Move
Paris wheat BL2U6	203.25	0.00	0.00
Paris maize EMAc1	216.25	-0.25	-0.12
Paris rapeseed COMc1	529.50	1.50	0.28
CBOT wheat Wv1	586.50	-1.00	-0.17
CBOT corn Cv1	416.75	-2.25	-0.54
CBOT soy Sv1	1121.75	-1.25	-0.11
WTI crude oil CLc1	90.30	0.27	0.30
Euro/dollar EUR=	1.15	0.00	-0.12
Most active contracts - Wheat, corn and soy U.S. cents/bushel, Paris futures in euros per metric ton

($1 = 0.8677 euros)