Euronext Wheat Hits One-Month High on Russia-Ukraine Export Fears

Euronext wheat prices have climbed to their highest level in over a month as concerns about potential disruptions to Russian and Ukrainian grain exports grow. The December wheat contract on Euronext rose by 0.6% to €246.75 ($287.46) per metric ton, reaching its highest point since July 24 when it hit a contract high of €250.50.

The recent escalation of conflict between Russia and Ukraine has brought grain loading operations at their ports nearly to a complete standstill. Bloomberg News reported that Russia is considering increasing ballistic missile strikes on Ukraine, having concluded that peace negotiations have reached a dead end.