Wheat Prices Surge on Euronext Amid Black Sea Disruptions
On Thursday, benchmark wheat prices on the Euronext exchange climbed to their strongest level in nearly four weeks. The most‑traded December wheat contract closed 1.8 % higher at €241 per metric ton, after having touched €242 earlier in the session – the highest price observed since 24 July. The front‑month September futures contract, which was approaching expiration, finished the day unchanged at €227.25 per ton.
Chicago wheat prices also reached a near‑four‑week high on the same day, reflecting broader market momentum. Traders cited ongoing war‑related attacks on shipping routes by Moscow and Kyiv that have brought grain exports from the Azov and Black Sea basins to a near standstill. These disruptions are expected to redirect demand toward Western Europe, underpinning the price rally.
After a period of reduced demand earlier in the month as buyers awaited a de‑escalation of tensions, market participants reported heightened discussions among importers about sourcing wheat from alternative regions.
This article was generated with AI assistance and reviewed by an editor.