EU wheat falls to two-month low on Black Sea shipping reopening hopes
Euronext wheat dropped to a two-month low after reports of Russia-Turkey contacts on Black Sea grain shipping, Reuters said.
- published on Newsmetry
- original source published
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner. connect the api →
what happened
European wheat fell to a two-month low on Monday after reports that Russia is reviewing proposals to ensure safe grain transport across the Black Sea. According to Reuters, the December milling wheat contract on Paris-based Euronext was down 3.2% at €226.50 a ton at 16:35 GMT after daytime trading ended. That was its lowest since August 13.
The Interfax news agency reported that Deputy Foreign Minister Alexander Alimov confirmed Russia is weighing various options and is in contact with Turkey on the issue. A French trader said the market is very nervous about any news tied to exports from the region. CM Navigator analyst Donatas Jankauskas said the reports offered little fresh information.
Russian and Ukrainian wheat shipments through Azov-Black Sea ports have been near a standstill since mid-August, after attacks on vessels and damage to terminals. Russia is estimated to have exported about 1.5 million tons of wheat from October 1 to 20, and October exports could reach 3 million tons, more than half again normal volumes.
why it matters
For grain markets, the disruption has supported European prices and shifted some export business to the EU. Any sign that shipping may resume reduces the risk premium, so wheat reacts quickly to such headlines. Crop conditions also matter: MARS said dry soils in the western and southeastern EU and excess rain in the Baltics are slowing winter crop development.
market impact
Wheat and grain futures: hopes of Black Sea shipping resuming put pressure on European prices
tags
instruments
sources
- EU wheat hits two-month low on new proposals to reopen Black Sea grain shipping — Reuters, 26 October 2026 at 17:14 UTC
- EU wheat hits two-month low on new proposals to reopen Black Sea grain shipping — Reuters, 26 October 2026 at 17:38 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner.
get stories in real time ↗