Euronext wheat ends the week higher as Black Sea shipping disruptions persist
December Euronext wheat rose 0.4% on Friday and gained 3.6% over the week, though Argentine supply limits the advance, Reuters reports.
- published on Newsmetry
- original source published
the same feed is available to bots and dashboards through the api. connect the api →
what happened
According to Reuters, December wheat on Euronext settled 0.4% higher on Friday at €233.50 ($257.60) a metric ton. The benchmark gained 3.6% over the week, recovering from a four-month low of €218.50 set the previous Friday.
Attacks on shipping have choked grain exports from Russia and Ukraine through the Black Sea. Russian seaborne grain shipments fell 56% in October, with Baltic flows only partly making up the gap. Demand for French wheat has risen, including rare shipments to Saudi Arabia.
The gains are capped by abundant supply from the Southern Hemisphere. Argentina raised its 2026/27 wheat forecast to 24.3 million tons, and Algerian tender volumes are expected to be covered largely by Argentine grain. Saxo Bank's Ole Hansen also pointed to expectations of plentiful global supply.
why it matters
The key question for the market is whether Russia-Ukraine talks on a Black Sea shipping truce make progress. Until they do, the risk premium supports prices, but expectations of large Argentine and other Southern Hemisphere crops keep the rally in check. Chicago wheat rebounded more sharply on Friday, as some traders viewed Thursday's slide as overdone.
market impact
Wheat: Black Sea disruption supports prices, while Argentine supply caps the rally
- Euronext wheat pressure up — disrupted Black Sea exports shrink available supply in the global market
- Chicago wheat mixed — war-related support is offset by expectations of big Southern Hemisphere harvests
tags
instruments
sources
- EU wheat steadies to post weekly gain — Reuters, 13 November 2026 at 18:35 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
alerts on your topics, the morning digest and the api — in your account.
get stories in real time ↗