Why in one day did the price of wheat on the Paris stock exchange jump by 4-5 euros

Yesterday, wheat prices on the Chicago and Paris (Euronext) exchanges surged sharply, driven by fears of a new escalation of tensions in the Black Sea and the subsequent blockage of Ukrainian grain exports. Following Russia's invasion of Ukraine (24.02.22), wheat prices on markets on both sides of the Atlantic soared and in May 2022 reached peak values of around EUR440/t on the Paris exchange (EUR 200-210/t during the same period in 2021). The war has been dragging on for three years and nine months, but the situation on the grain markets is now fundamentally different. In 2024/25 and 2025/26, wheat prices are depressed by record production and abundant supply on a global scale. Under the pressure of increased supply, by the end of November 2025, the price of the December wheat contract on the Paris exchange eroded to EUR187/t. These days, Ukraine is attacking Russian tankers in the Black Sea with drones, with the latest strike being carried out on Monday 80 miles from the coast ...