Euronext wheat rises as Black Sea disruptions offset weak demand

Euronext wheat prices climbed on Tuesday due to concerns over significant disruptions in Black Sea exports combined with a lack of demand from importers, according to Investing.com. The December wheat contract, which saw the most activity on Euronext, ended 0.6% higher at €235.75 ($272.95) per metric ton. Market participants also made technical adjustments, as they offloaded September futures after Monday's expiration of options for the front month.

The September contract experienced a 0.9% decrease, settling at €223.25. The ongoing Russian-Ukrainian port attacks have hindered shipments, with unconfirmed reports on Tuesday suggesting strikes against several grain carriers near Russian ports, keeping the focus on Black Sea trade issues. Euronext prices were still below a two-week peak reached on Friday, with no clear signs that buyers would substitute Russian and Ukrainian supplies with alternative sources like Western European wheat.

According to EU data, the European Union's soft wheat exports during the 2026/27 season, which started on July 1, totaled 1.48 million tons, a 49% decline compared to the previous year.