PARIS, April 2 (Reuters) - Euronext wheat futures closed little changed on Wednesday as uncertainty hung over the market before an announcement of sweeping U.S. tariffs due later in the day.

A rise in the euro EUR= against the dollar helped curb Euronext, though traders said Western European prices remained competitive for export.

May wheat BL2K5 on Euronext settled 0.2% up at 222.00 euros ($240.94) a metric ton.

The contract earlier reached a new one-week high at 223.25 euros to move further from Friday's one-year low of 215.00 euros, before paring gains.

"Participants were cautious with an extreme wait-and-see mood today," a futures dealer said, referring to the tariff announcement by U.S. President Donald Trump due at 2000 GMT.

Grain traders are bracing for volatility in exchange rates and possible disruption to agricultural trade, including through retaliatory measures against U.S. exports.

Chicago wheat Wv1 edged lower. GRA/

May futures on Euronext held up better than deferred positions, which closed flat to slightly lower.

The front-month position was underpinned by improved export prospects for French wheat and a large short position held by investment funds, which made them prone to buy back positions, dealers said.

After talk earlier this week of French sales to Morocco and interest from buyers in Egypt, traders cited demand for French feed wheat within the EU.

“French feed wheat is $6-$7 a ton cheaper in the Spanish market than Ukrainian which means French feed wheat is pushing Ukrainian feed wheat out of Spain for the time being, although Spain’s new harvest is expected to arrive early this year," a German trader said.

“But in the milling wheat sector, Ukraine and France are set for heavy competition in coming days and weeks, with their prices very close.”

Prices for Ukrainian 11.5% protein wheat rose this week and are now around $235-$243, just under or about the same as French prices.

Traders were also monitoring cheap prices for U.S. wheat, which could bring it into contention for shipment to North African markets.

U.S. soft red winter wheat is currently around $228-$232 a ton FOB for April/May shipment, about $15 cheaper than the north EU, depending on Chicago and Euronext prices, according to traders.

($1 = 0.9214 euros)

(Reporting by Gus Trompiz in Paris and Michael Hogan in Hamburg;Editing by Elaine Hardcastle)

((gus.trompiz@thomsonreuters.com))