PARIS: Euronext wheat edged higher on Friday after a choppy week in which prices hit a three-week low before recouping losses, as traders grappled with mixed signs about supply from the Black Sea region. December wheat on Paris-based Euronext was up 0.3% at 236.00 euros ($250.04) a metric ton by 1538 GMT.
Over the week, wheat rose marginally, after recovering from a three-week low of 232.00 euro struck on Monday and again on Thursday. Renewed worries about the war in Ukraine pushed wheat futures higher in Chicago and Paris at Thursday’s close, with attention focused on reports that a cargo ship hit a mine in the Black Sea.
But reaction to the news subsided on Friday as the vessel suffered only minor damage while overall export competition from large Black Sea supplies continued to curb prices.
Source: Brecorder
