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Chicago wheat slips as Black Sea export hopes fade
The most-traded CBOT wheat contract fell 0.3% to $7.04-1/2 a bushel by 0109 GMT as traders weighed diplomacy around Black Sea shipping.
Chicago wheat fell on Monday as traders assessed whether renewed diplomatic efforts could reduce disruptions to Black Sea grain exports from Russia and Ukraine, two of the world’s largest suppliers, according to Reuters via LiveMint Markets.
In CBOT trading, the most-traded wheat contract was down 0.3% at $7.04-1/2 a bushel by 0109 GMT. CBOT corn fell 0.3% to $5.26-1/2 a bushel, while soybeans rose 0.2% to $13.21 a bushel.
Attention has focused on the outlook for Black Sea agricultural exports amid a near standstill in cargo movements due to heavy attacks on ships and port infrastructure by both sides.
Ukrainian President Volodymyr Zelenskiy said on Friday that India, Turkey, Egypt and other Middle Eastern countries are taking part in talks to unblock shipping in the Black Sea, while Turkey has submitted proposals to Moscow on security of shipping, with no substantive negotiations reported as under way.
Latest closeWheat $704.00 ▼0.4%|Corn $528.75 ▲0.2%|Soybeans $1,320.00 ▲0.2%