Source: APKinform (Ukraine)
As a result of trading on February 10, wheat futures on the Euronext trade exchange rose to a one-month high of 236.75 euros per ton, exceeding the price of the previous trading day by 2 euros per ton.
The main support for prices was provided by the slowdown in exports of competing Russian wheat and the depreciation of the euro against the US dollar.
In particular, the approval by the Russian government of restrictive export quotas for the period from February 15 to June 30 will slow down Russian supplies after the record pace of the first half of the season. Thus, Russian wheat export prices continued to rise, favoring the EU export outlook.
Market operators also monitored news on US trade tariffs.