Euronext Wheat Up 4% on 54-Year Low

Euronext September milling wheat futures settled 4% higher at €216.50 per metric ton, marking a second consecutive gain day.
USDA forecast for 2026/27 U.S. wheat crop fell to its smallest since 1972, triggering concerns over drought damage in the Plains.
Global wheat stocks for 2026/27 projected below average analyst estimates due to reduced output in several major producing nations.
Rising oil prices and stalled U.S.-Iran talks boosted grain markets, fearing energy and fertilizer supply disruptions via the Strait of Hormuz.