EU wheat jumps to contract highs as war tensions fuel fund buying
WEAT•Euronext wheat hits contract highs
PARIS, Sept. 1 (Reuters) - Euronext wheat jumped about 3% on Tuesday to set contract highs, with three-year peaks for U.S. prices and renewed fears of lasting disruption to Black Sea exports stoking investment fund buying, traders said.
A rally in crude oil as fighting resumed between the U.S. and Iran further supported wheat and other agricultural markets.
December wheat BL2Z6, the most-active contract on the Paris-based Euronext, was up 2.9% at €252.25 ($292.31) a metric ton at 1649 GMT during the evening session.
It earlier reached €254, surpassing a previous life-of-contract peak from Friday and setting a new two-year high for a second-month price BL2c2.
Chicago wheat Wv1 rose to another three-year high.
