Euronext wheat falls as traders take profits after a four-week high
#
Euronext wheat prices fell on Friday, as traders booked profits after hitting their highest level in four weeks, while continuing to monitor the fallout from war-related disruptions to grain shipments via the Black Sea.
The December wheat contract on Euronext, the most actively traded, slid 1.10% to €238.25 per metric ton, after reaching its highest level since 24/07 at €242.00 on Thursday.
September futures fell more sharply, down 1.70% to €223.50 per ton, as market participants continued to exit the contract nearing expiry.
Chicago wheat also declined after reaching a four-week peak on Thursday.
Mutual attacks between Russia and Ukraine on shipping routes have brought near-total stoppage to grain exports from the Sea of Azov and the Black Sea.
Traders pointed to a notable decline in Friday’s reports regarding damage to vessels and ports, as the market awaits further evidence of buyers turning to alternative sources for Russian and Ukrainian grain supplies.
#Euronext #WheatMarket #TrumpPressesCongressToPassClarityAct #Europe #bachsaisH
#
Euronext wheat prices fell on Friday, as traders booked profits after hitting their highest level in four weeks, while continuing to monitor the fallout from war-related disruptions to grain shipments via the Black Sea.
The December wheat contract on Euronext, the most actively traded, slid 1.10% to €238.25 per metric ton, after reaching its highest level since 24/07 at €242.00 on Thursday.
September futures fell more sharply, down 1.70% to €223.50 per ton, as market participants continued to exit the contract nearing expiry.
Chicago wheat also declined after reaching a four-week peak on Thursday.
Mutual attacks between Russia and Ukraine on shipping routes have brought near-total stoppage to grain exports from the Sea of Azov and the Black Sea.
Traders pointed to a notable decline in Friday’s reports regarding damage to vessels and ports, as the market awaits further evidence of buyers turning to alternative sources for Russian and Ukrainian grain supplies.
#Euronext #WheatMarket #TrumpPressesCongressToPassClarityAct #Europe #bachsaisH