Wheat prices climb in Europe amid Black Sea settlement concerns
Wheat prices in Europe have increased following the decline in hopes of resuming Black Sea exports due to ongoing attacks by Russia and Ukraine on ports and ships, which have practically halted exports across the Black Sea. The December delivery price of wheat on Euronext in Paris rose by 0.9% to reach €243.75 ($279.63) per ton. Meanwhile, wheat prices on the Chicago Board of Trade increased by about 2%, supported by rising corn prices and positive signals from US-China talks. However, tensions and attacks continue to hinder the resumption of exports, and Russian exports through alternative routes remain significantly below normal levels. Demand from importers, particularly Pakistan, has supported prices even as farmers prefer to sell now, wary that prices might decline if shipping through the Black Sea improves.
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