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CBOT wheat falls as Ukrainian grain export deal moves forward

CBOT wheat falls as Ukrainian grain export deal moves forward

Reuters · 07/27/2022 14:56
CBOT wheat falls as Ukrainian grain export deal moves forward

- Chicago Board of Trade wheat futures fell on Tuesday as Ukraine prepares to ship grain through Black Sea ports via a minted agreement allowing exports to flow through the shipping channel.

  • CBOT September soft red winter wheat WU2 settled 13-1/2 cents lower at $7.90-1/4 a bushel.

  • K.C. September hard red winter wheat KWU2 lost 15-1/4 cents to $8.61-3/4 a bushel, while MGEX September spring wheat MWEU2 fell 18-3/4 cents to $9.10 a bushel.

  • A grain coordination center is being established in Istanbul, Turkey, to coordinate Ukrainian grain exports under a deal signed by Russia and Ukraine on Friday and brokered by Turkey and the United Nations. The first shipment is expected to depart from Black Sea ports within days.

  • Russia's July-June 2022/2023 wheat exports could reach a record high of 42.9 million tonnes, according to Russia-focused Sovecon agriculture consultancy, up 300,000 tonnes from its previous assessment. Russia's wheat crop estimate has been upped by 1.7 million tonnes to 80.9 million tonnes.


(Reporting by Christopher Walljasper; Editing by Kirsten Donovan)

((Christopher.Walljasper@thomsonreuters.com; 1 630 269 3072))