CBOT grains rise on Ukraine war fears, Chinese buying hopes
CBOT wheat futures climbed 4-7 cents, corn 3-5 cents, and soybeans 7-10 cents on Monday. Wheat gains were driven by reduced hopes for de-escalation in the Ukraine war impacting Black Sea exports, despite Russian efforts to ensure shipping safety and falling export prices. Importer demand, including purchases by Pakistan, also supported wheat. Corn futures rose on spillover support from soybeans and wheat. Soybean futures advanced as traders anticipated potential Chinese buying ahead of a meeting between U.S. President Trump and Chinese President Xi Jinping.
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m. CDT (1330 GMT) on Monday. WHEAT — Up 4 to 7 cents per bushel CBOT wheat futures rose after drone attacks by Ukraine and Russia reduced hopes for a de-escalation in their war which has virtually stopped their Black Sea exports. However, Russia is working closely with Turkey to ensure the safety of shipping in the Black Sea, the Interfax news agency cited Foreign Ministry spokeswoman Maria Zakharova as saying on Monday.
Russian wheat export prices fell last week in line with global markets, and analysts are revising their estimates for shipments from Russia in September upwards, although they remain at multi-year lows. Egypt is diversifying its source of wheat imports towards France and other European suppliers, moving away from Ukraine and Russia where supplies have been disrupted, Supply Minister Sherif Farouk was quoted as saying on Sunday. Wheat was underpinned by importer demand, with Pakistan buying 365,000 tons on Saturday and then issuing a tender to buy 185,000 tons on Sunday. 21-3/4 per bushel.
C. 91 a bushel. 48-1/2 a bushel. CORN — Up 3 to 5 cents per bushel CBOT corn turned higher on spillover support from soybean and wheat futures.
Planting of Brazil's 2026/27 first corn crop reached 27% of the estimated area in the center-south region, compared with 22% a week earlier and 25% a year ago. 33-1/4 per bushel. S. President Donald Trump and Chinese President Xi Jinping this week, which could generate more Chinese buying of US supplies.
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