Euronext wheat prices fell on Tuesday after consolidating a rally the previous day. Traders weighed weather and war risk to Black Sea supplies against signs that Russia, Ukraine and other exporters continue to dominate markets at lower prices.

Euronext, a Paris-based exchange, reported that December wheat was down 0.3% to 219.50 euros (or $244.87) per metric tonne by 1420 GMT.

The stock had earlier extended its gains from Monday to reach the highest level in nearly a week, 221.75 Euros before reversing.

Chicago wheat edges up.

Soybeans and other oilseeds rose on news of Chinese stimulus measures and the drought in Brazil.

A futures dealer stated that "the Chinese stimulus is driving oilseeds, and this helps other crop markets in a small way."

The price of November rapeseed traded on Euronext increased by 1.2%, to a two-month high near 480.75 euro per ton.

Weather worries also boosted wheat markets on Monday, as adverse weather conditions cast doubts on the size of Russia’s harvest and threaten winter wheat sowing both in Russia and Ukraine.

However, the price of Black Sea products remained limited by large exports.

"Germany and France do not compete in the export market at this time." "Russia alone exports over 1,000,000 tons per week, which is sufficient to meet a significant part of the world demand," said a German trader.

The trader stated that there were no large ships in Germany, and the only ones loading were smaller vessels bound for countries of the European Union or Britain.

Official data revealed that EU soft wheat exports in 2024/25 reached 5.86 millions tons, a 24% drop from the previous year, although figures for France were not complete. $1 = 0.8964 Euros (Reporting from Gus Trompiz and Michael Hogan, Hamburg; editing by David Evans).

(source: Reuters)