Benchmark wheat prices on Euronext advanced to a four-week high on Thursday, driven by mounting concerns over war-related disruptions to Black Sea grain exports that have curtailed shipments from the Azov and Black Sea basin.
The most-traded December wheat contract on Euronext closed 1.8% higher at €241 per metric ton, after briefly touching €242 earlier in the session. This marked the highest level since July 24, according to market data. Chicago wheat futures also climbed to a nearly four-week peak on the same day.
Market participants reported renewed buying interest as importers reassessed supply chains amid the escalation in hostilities between Moscow and Kyiv. Attacks on shipping routes have brought grain exports from the Black Sea region to a near standstill, prompting buyers to explore alternative sources in Western Europe.
The front-month September futures contract on Euronext, expiring this month, ended the session flat at €227.25 per metric ton, reflecting a partial unwinding of positions following the earlier rally.
