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Euronext December wheat settled 1.6% lower at €232.50 a tonne after a four-day rally. Algeria bought about 700,000 tonnes in a tender, with traders expecting much of it to come from Argentina.
Russian wheat is moving via the Baltic while Black Sea shipments are largely halted.
Argentine and Southern Hemisphere supplies are competing for Algerian demand, and rerouted Russian flows keep export supply ample, which weighs on European wheat prices. Any Black Sea shipping deal would be bearish for prices.
maritimeprofessional.comNov 12, 2026After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
