Overview
European wheat futures on the Paris‑based Euronext exchange increased on Tuesday, 14 July 2026, closing the daytime session 0.8 % higher at €216.50 per metric ton (approximately $247.68).
Market Drivers
The rise followed heightened concerns that Ukrainian drone attacks on vessels in the Sea of Azov could disrupt Russian wheat shipments. The Sea of Azov handles roughly one‑quarter of Russia’s grain exports, and shipping activity there remained limited on Tuesday after the attacks.
Price Movements
The September milling wheat contract had surged 5.5 % on the preceding Friday on expectations of reduced Russian deliveries through the Azov route, but the price fell on Monday before the Tuesday gain. Trading volume was lower than usual because France observed a public holiday.
Russian Export Position
Russia’s association of grain exporters issued a statement on Tuesday asserting that the country will fully honour its grain export commitments to foreign partners despite the situation in the Azov Sea, citing sufficient transshipment capacity to reroute shipments to alternative terminals. The Russian agriculture ministry echoed the claim of adequate transshipment capability.
Implications
The combination of limited Azov‑Sea shipping and Russia’s assurances of alternative logistics kept market participants cautious, supporting a modest price increase in European wheat markets.