Euronext Wheat Prices Fall as Traders Take Profits Amid War-Related Disruptions

Euronext wheat prices declined on Friday as traders took profits after reaching a four-week high and assessed the impact of war-related disruptions to Black Sea grain shipments.

The December wheat contract on Euronext, the most-active position, fell 1.1% to €238.25 per metric ton. This followed a Thursday peak of €242, its highest level since July 24.

September futures dropped more sharply, falling 1.7% to €223.50 per ton, as market participants continued to exit the soon-to-expire contract.

The disruptions to grain exports from the Azov and Black Sea basin due to attacks by Russia and Ukraine on each other's shipping routes have brought trade to a near standstill.