DBA•DBA•Non-commercial market participants extended their net long position in Euronext's milling wheat futures and options to 144,577 contracts in the week to July 24, from 111,938 a week earlier, data published by Euronext on Wednesday showed.
Traders reported moves to re-route Ukraine’s new crop exports to shipment via Romanian ports or delivery via the Danube river after Russian attacks stopped seaport exports, with land deliveries to Polish Baltic Sea ports also being considered.
"This is what happened to Ukrainian exports after the war started and before the safe shipping channel was agreed," another trader said.
"But Ukrainian truck transport is in tight supply with many vehicles being used to transport the new crop from the fields and anyway a shortage of drivers with so many Ukrainians in the army," he added.
PARIS/HAMBURG, July 29 (Reuters) - European wheat edged lower on Wednesday as traders assessed the situation in Black Sea ports after Russia and Ukraine continued attacks on vessels and port infrastructure in the region.
September milling wheat BL2U6 on Paris-based Euronext closed the daily session down 0.6% at €226.50 a metric ton.
"The risk premium caused by the Ukrainian and Russian attacks on ports and shipping seems to have found its level and prices are looking pretty stable," one German trader said.
"There is continued reassurance in the market that the big Russian grain export terminals in the port of Novorossiysk seem to be working normally and are not being attacked."
Concerns over Black Sea exports were reinforced after three major Russian grain terminals restricted truck deliveries, citing heightened shipping risks following recent attacks and changes to grain flows after restrictions in the Sea of Azov.
