Market Move
Euronext's September milling wheat contract on the Paris‑based exchange closed 4.2% lower at €231.75 per metric ton on Friday, 24 July 2026. Earlier in the trading session the price had fallen to a low of €226.25, representing a decline of more than 6% before partially recovering to the closing level.
Reason for Decline
The drop followed reports that Kyiv was exploring alternative methods to secure grain exports through the Odesa region ports on the Black Sea, which initially raised expectations that shipments could continue despite recent disruptions. Ukraine’s agriculture minister Taras Vysotskyi told Reuters that no official discussions are currently taking place and that Ukraine must maintain normal safety levels comparable to previous years.
Context
Wheat prices have been rising in recent weeks as attacks on grain ships and ports in the Black Sea region have intensified, with both Russia and Ukraine increasing such attacks, heightening supply concerns.