Wheat Hits One-Month Low
Wheat fell to around $7 per bushel, hitting its lowest level since August 25, as renewed diplomatic efforts between Russia and Ukraine raised hopes for progress toward restoring Black Sea shipping. Ukrainian President Volodymyr Zelenskyy said talks with US President Donald Trump focused on efforts to end the four-year-old war, including the possibility of a bilateral ceasefire targeting energy infrastructure. Zelenskyy also said Kyiv was prepared to consider any format for an energy truce with Moscow, while noting that no discussions had taken place on Ukraine unilaterally suspending strikes against Russian oil refineries. The Russia-Ukraine conflict has disrupted Black Sea shipments, prompting buyers to turn to alternative sources. Meanwhile, the US Department of Agriculture said earlier this week that US winter wheat planting was 17% complete as of Sunday, trailing the five-year average of 21%.
Wheat fell to around $7 per bushel, hitting its lowest level since August 25, as renewed diplomatic efforts between Russia and Ukraine raised hopes for progress toward restoring Black Sea shipping. Ukrainian President Volodymyr Zelenskyy said talks with US President Donald Trump focused on efforts to end the four-year-old war, including the possibility of a bilateral ceasefire targeting energy infrastructure. Zelenskyy also said Kyiv was prepared to consider any format for an energy truce with Moscow, while noting that no discussions had taken place on Ukraine unilaterally suspending strikes against Russian oil refineries.
The Russia-Ukraine conflict has disrupted Black Sea shipments, prompting buyers to turn to alternative sources. Meanwhile, the US Department of Agriculture said earlier this week that US winter wheat planting was 17% complete as of Sunday, trailing the five-year average of 21%.