Commodities
Euronext Wheat Prices Drop Amid War-Related Disruptions
The Euronext wheat prices dropped on Friday as traders took profits after reaching a four-week high. The December wheat contract, which is the most-active position, fell by 1.1% to €238.25 per metric ton.
The September futures declined more sharply, dropping by 1.7% to €223.50 per ton. This decline was due to traders exiting the soon-to-expire contract.
Market participants were also monitoring the impact of war-related disruptions on Black Sea grain shipments. Attacks by Russia and Ukraine on each other's shipping routes have brought grain exports from the Azov and Black Sea basin to a near standstill.