Wheat Rises on Black Sea Disruptions; Corn Eases
Chicago wheat prices rose by nearly 1% on Monday, recovering from a multi-week low. Support for wheat prices came from the lack of progress in restoring Black Sea supplies impacted by the Russia-Ukraine war. Corn prices fell due to large US inventories, while soybeans saw a slight increase.
Chicago wheat rose almost 1% on Monday, rebounding from a multi-week low as the absence of progress in restoring Black Sea supplies disrupted by the Russia-Ukraine war supported prices. Corn declined on pressure from large US inventories, while soybeans edged higher. Both commodities are likely to remain within a relatively tight range until at least March.