Euronext wheat rises to contract highs on Black Sea disruption fears
Euronext wheat jumped about 3% on Tuesday to contract highs, with three-year peaks for U.S. prices. Traders cited renewed fears of lasting Black Sea export disruption and fund buying, alongside a crude oil rally after U.S.-Iran fighting resumed.
Euronext wheat jumped about 3% on Tuesday to set contract highs, while U.S. prices also touched three-year peaks as renewed fears of lasting disruption to Black Sea exports stoked investment-fund buying, traders said. A rally in crude oil, after fighting resumed between the U.S. and Iran, added support to wheat.