[European corn and wheat futures rise, US Department of Agriculture lowers EU grain production forecast] October 12th, European corn futures rose in Paris on Monday, rising for the first time in four trading days after the US Department of Agriculture lowered its European supply forecast. According to data released last Friday, the U.S. Department of Agriculture further lowered its grain supply forecast for the European Union, significantly lowering its corn production forecast to 48 million tons and lowering its wheat production forecast. Smaller harvests are tightening supplies. Corn futures on Euronext once rose 1.3%, their biggest gain in a week. Paris wheat futures also rose, once touching 244.75 euros per ton, with major importer Algeria returning to the market to bring support.