CBOT Wheat Higher on Black Sea Shipping Disruptions
Chicago Board of Trade wheat futures rose for a fourth straight session, supported by worries about ongoing Black Sea supply disruptions due to the war between Russia and Ukraine.
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Chicago Board of Trade wheat futures rose for a fourth straight session, supported by worries about ongoing Black Sea supply disruptions due to the war between Russia and Ukraine.
Chicago Board of Trade wheat futures closed higher on Monday, driven by concerns over ongoing Black Sea supply disruptions and robust results from a Saudi import tender. Saudi Arabia purchased around 683,000 metric tons of wheat, exceeding the tender's sought amount. Weekly U.S. export inspections were strong.
CBOT wheat futures rose on Monday amid worries about ongoing Black Sea supply disruptions and strength in a Saudi import tender, analysts said.
The most-active CBOT soybean contract fell 0.3% to $12.84-3/4 a bushel and touched its weakest since Aug. 31. Wheat and corn also slipped as traders watched Black Sea export disruption efforts.
CBOT wheat futures finished higher on Monday after drone attacks by Ukraine and Russia reduced hopes for a de-escalation in fighting that has virtually stopped their Black Sea grain exports. The largest Ukrainian drone attack reported so far on the Moscow region killed three people and damaged an oil refinery, while an