PARIS: Euronext wheat fell further on Wednesday while rapeseed dropped 5% as an improving weather outlook for US spring planting and a fading crude oil rally weighed on grain markets.
Trading remained choppy as traders also prepared for the Easter holiday weekend.
May milling wheat on Paris-based Euronext settled 0.5% down at 254.00 euros ($276.78) a tonne, after earlier touching its lowest since March 24.
September wheat ended 1.4% lower at 254.75 euros, with dealers citing additional pressure on new-crop prices from reports that the European Union will continue zero tariffs for Ukrainian grain in the upcoming 2023/24 season.
Poland’s agriculture minister resigned on Wednesday, citing a European Commission decision to extend duty free imports for Ukrainian grain until June 2024.
An influx of grain from war-torn Ukraine into eastern EU states has fuelled discontent among farmers.
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