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keeping close eye on rising wheat prices -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Bruno Le Maire (Finance Minister) attends news conference at Paris’ Ministry of Finance, France on September 22, 2021. REUTERS/Gonzalo Fuentes

PARIS (Reuters – Bruno Le Maire the French Finance Minister, said on Wednesday to BFM TV and RMC Radio that he was closely watching rising wheat prices. These could lead to increased inflationary pressures which will affect many French consumers.

On Tuesday, the Euronext wheat prices surged to close at a 4-week high. This was due to concerns about Russia’s recognition in Ukraine of separatist regions. It could also be causing disruption to massive Black Sea grain shipping.

Unofficially, May wheat was closed. It is the most active contract at the Paris-based Euronext Futures Market. The gain for the day was 4.75 Euros or 1.7% at 283.00 euros (or $3321.21 a tonne).

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