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European wheat futures prices on the Paris Exchange rose by 0.5% to reach $271.37 per ton, supported by a new tender from Algeria to purchase 50,000 tons of wheat. Sentiment regarding the resumption of Black Sea exports has diminished due to political tensions and attacks on Ukrainian sites, coupled with the euro's decline, which has increased the competitiveness of European exports. This increase follows a sharp decline last week, and forecasts suggest that Algeria may import around 8.5 million tons of wheat in the 2026-2027 season, although actual purchases might exceed these announced amounts due to market relationships. Additionally, the weakening euro against the dollar supports this trend, making European grains less expensive for buyers in dollars. It is expected that the market will continue to focus on global demand factors and geopolitical tensions that influence wheat prices.
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