European Wheat Prices Drop Amid Black Sea Port Disruptions

European wheat prices fell on Wednesday as traders assessed the situation at Black Sea ports following Russian and Ukrainian attacks.

The September milling grain price on Paris' Euronext closed down 0.6% to EUR226.50 per metric ton, with one German trader stating that the risk premium has reached its level, making prices look stable.

Market participants are reassured that the Russian grain export terminals at Novorossiysk appear to be operating normally and not under attack.

However, traders are considering rerouting exports via Romanian ports or delivering via the Danube River due to disruptions in seaport exports from Ukraine's new crops.