On Wednesday, grain prices in Europe rose for the fifth consecutive session.

On Wednesday, European wheat prices rose for the fifth consecutive session, reaching a two-week high, as fears of escalating conflict in Ukraine and cold weather in Russia supported prices amid low trading activity ahead of the Christmas holidays, dealers reported. The Euronext exchange closed earlier than usual on Wednesday and will remain closed on Thursday and Friday due to the Christmas holidays. March wheat futures, the most active contract on the Paris-based Euronext exchange, closed up 0.7% at 190.25 euros ($224.27) per metric ton, after reaching its highest level since December 9 at 190.50 euros. The base price recovered after hitting a contract low of 185 euros per ton last Wednesday. Wheat futures on the Chicago Mercantile Exchange also rose for the fifth consecutive session on Wednesday. Severe frosts in Russia this week also contributed to the reduction of winter cover, although some analysts believe that the snow cover should limit the damage from frost to winter ...