European Wheat Futures Slip Below €200

European Wheat Futures Slip Below €200

On Monday, 15 June 2026, European wheat futures traded on the Paris‑based Euronext exchange fell below the €200 per metric ton threshold, closing the daytime session at 1630 GMT at €199.75 (approximately $231.73), down 0.5 % from the previous level. Earlier in the session the contract briefly touched €198, marking its lowest price since 28 February.

The price decline was triggered by news that the United States and Iran had reached an initial agreement to end their war, with a formal signing scheduled for the upcoming Friday. This geopolitical development pushed crude oil prices lower, prompting concerns that grain‑based biofuel prices could also fall.

In the United States, Chicago grain futures initially fell in response to the news but later reversed direction and rose, indicating a short‑term market correction. The September milling wheat contract on Euronext has tested the €200 level multiple times over the past week, reflecting ongoing market sensitivity.

Analysts noted that expectations of strong wheat harvests in the Black Sea region and western Europe have further contributed to weaker sentiment in the wheat market.