A difficult session. London November 2026 fell £2.75 to £208.25, November 2027 down £2.00 to £204.00, and Paris/Matif December shed 3.25 euros to €240.50 — approaching the key €240 support level. The driver was familiar — reports of possible limited ceasefire on energy and grain infrastructure between Russia and Ukraine, prompting another round of fund long liquidation. Five years into the conflict, diplomacy has consistently failed to deliver and yet each new rumour still moves the market. The Euronext December wheat contract is testing significant technical support at €240 — a level that will be closely watched today.

A very quiet session. London November 2026 eased 25p to £211.00, November 2027 down 80p to £206.00, and Paris/Matif December unchanged at €243.75. The UN General Assembly in New York is attracting market attention with Zelensky and the Russian foreign minister both present and meetings with US representatives scheduled — but no concrete outcomes have emerged yet on the Black Sea or energy situations. Markets are in a holding pattern, waiting for Thursday’s Xi-Trump meeting to provide fresh direction.

A positive session after Friday’s lethargic close. London November 2026 gained £1.50 to £211.25, November 2027 up £2.00 to £206.50, and Paris/Matif December added 2.25 euros to €243.75. Markets are finding their footing at technical support levels with the Xi-Trump meeting on Thursday providing the near-term directional catalyst. Turkey-Russia exchanges on Black Sea transit continue but operators have become appropriately sceptical — numerous announcements over recent weeks have produced no tangible improvement and the market is no longer selling aggressively on diplomatic news alone.