European wheat futures extended losses on Friday to a 2-1/2 month low as investor jitters about a coronavirus outbreak spreading around the world fuelled another rout on share and oil markets.
Benchmark May milling wheat on Paris-based Euronext settled down 2.75 euros, or 1.5%, at 184.25 euros ($200.24) a tonne.
It earlier fell to 183.50 euros, a level last seen on December 12.
Chicago wheat slid to a three-month low in US trading, while equity and oil markets were set for their heaviest weekly losses since the 2008 financial crisis.
The sell-off on financial markets has taken the focus away from brisk export demand for western European wheat that had supported prices in recent weeks.
The market upheaval also curbed physical grain activity.
"No one wants to make a move. We've had a lot of export business already executed so people are waiting to see where Matif (Euronext) goes," a French broker said.
In Germany, standard bread wheat with 12% protein for April delivery in Hamburg was offered for sale at 4.5 euros over the Paris May contract against 5.5 euros over on Thursday.
Buyers were offering up to 3.5 euros over Paris.
"Global markets are depressed because of the worry about the economic impact, this instability is weakening despite a busy wheat export programme continuing in German ports," one German trader said.
"No one really knows what the impact on demand will be as the disease spreads."
Fears of a pandemic increased on Friday, with six countries reporting their first cases of the coronavirus and the World Health Organization (WHO) raising its global spread and impact risk alert to "very high".
Some 22 new coronavirus cases were reported in Germany on Thursday, bringing the total to almost 60, with the first case confirmed in Hamburg.
In Switzerland, a major hub for commodity trading, the authorities banned major gatherings to try to curb the epidemic, forcing cancellation of next week's Geneva international car show.
In France, where 88 cases have been reported, the government said the week-long Paris farm show, which draws around 600,000 visitors, would continue as planned until Sunday.
In crop news, farm office FranceAgriMer estimated that 64% of French soft wheat was in good or excellent condition by February 24, down from 65% a week earlier and well below a year-earlier score of 85%.
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