HAMBURG: Euronext wheat fell to near a one-year low on Monday after a wartime shipping corridor for Ukrainian grain exports was extended, while traders also reacted to jitters on financial markets after the rescue of Swiss bank Credit Suisse.

May milling wheat, the most active wheat contract on the Paris-based Euronext, fell 1.6% or 4.25 euros to 261.25 euros ($279.90) a tonne at 1556 GMT.

It earlier hit 260.50 euros, just above last week’s one-year low of 260.25, but again held chart support around that level.

The deal allowing the safe export of grain from Ukrainian Black Sea ports was renewed on Saturday but Russia said it only agreed to a 60-day extension.

Turmoil in the banking sector and a sharp rise in the euro against the dollar curbed Euronext prices, dealers said.

Euronext rapeseed extended losses to a new two-year low.

May rapeseed fell 2.3% to 456.25 euros a tonne, after earlier touching the lowest front-month price since February 2021 of 455.00 euros.