Wheat Prices Rise Due to Export Delays from the Black Sea

Wheat prices on Euronext rose Thursday to nearly a four-week high. The main reason is the disruption of grain exports from the Black and Azov Seas region, prompting buyers to seek alternative suppliers.

The December wheat contract price increased by 1.8% and reached €241 per ton. During the day, the price reached €242, which is the highest level since July 24.

Attacks on maritime routes carried out by Moscow and Kyiv have nearly halted grain shipments from the Black and Azov Seas basin. Wheat also became more expensive on the Chicago exchange, where prices similarly approached a four-week high.

Source: Investing.com