Euronext Wheat Prices Fall Amid Ongoing Black Sea Uncertainty
EU wheat prices fell for a second consecutive session on Friday, mirroring the decline in Chicago wheat. The Euronext December contract closed at €241.50 (USD277.07) per metric ton, down 0.8% from the previous day's close.
The market remains uncertain due to ongoing military strikes in the Black Sea region and diplomatic efforts to achieve de-escalation between Russia and Ukraine. Traders are assessing the impact of these developments on wheat exports from the region.
Despite the uncertainty, shipments of Russian wheat continue to reach markets. On Friday, traders reported sales offers for around 220,000 tons of Russian 12.5% wheat for October shipment from Baltic ports.
A German trader commented on the situation, stating, 'The market is torn between hopes of a diplomatic agreement for Black Sea safe shipping against the reality that Russian and Ukrainian attacks continue every day.'