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Commodities

Putin's Peace Hints Send EU Wheat Prices Plummeting

Guavy AI Editorial Team
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Wheat
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The price of European wheat dropped sharply after Russian President Vladimir Putin hinted at a possible peace deal to end the conflict in Ukraine.

Putin's comments, made at an economic forum in Russia's Far East, triggered profit-taking following a steep rally. Traders saw little signs of an easing of hostilities to ease a near-halt of Russian and Ukrainian shipments in the Black Sea region.

The most active contract on Paris-based Euronext, December milling wheat, fell 3.2% to EUR248.5 ($289.13) after having dropped as low as EUR243.25 per ton earlier.

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