Grain prices have seen yet another week of wildly fluctuating futures prices. MATIF wheat moved to a new recent high of €365/t for December 2022 on Monday of this week, having fallen back to close at €348/t on Friday last, similar to the close of €349.75/t on the previous Tuesday.
Black Sea tensions were a significant driver of Monday’s price escalation this week. The weekend bombings and missile attacks added new uncertainty and precipitated a price rise of over €16/t on Monday. The December contract settled at €364.25/t on that day.