CHICAGO, Sept 15 (Reuters): Chicago Board of Trade wheat futures reached a 12-week high on Friday, the last trading day of the week, as escalating tensions in Russia's war with Ukraine increased uncertainty about Black Sea exports.
Traders focused on the Black Sea after Ukraine, a major wheat and corn supplier, accused Russia on Thursday of using strategic bombers to strike a civilian grain vessel in waters near NATO member Romania. Russia, the world's biggest wheat exporter, declined to comment.
Wheat markets have also been grappling with weather risks, with dryness hampering winter wheat sowing in Russia and Ukraine. A slide in the dollar further helped support CBOT futures, traders said, at it makes U.S. crops look more attractive to importers. "When we have reactions to world events, sometimes it is fairly fleeting," said Matt Wiegand, commodity broker for FuturesOne.
CBOT corn rose 7-1/4 cents to $4.13-1/4 per bushel, while soybeans slipped 4-1/2 cents to $10.06-1/4 per bushel.
Chicago wheat futures hit 12-week peak
FE Team | Published: September 15, 2024 22:21:23
Chicago wheat futures hit 12-week peak
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