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CBOT wheat rises on reports of Russian missiles crossing into Poland

Reuters · 11/15/2022 15:44
CBOT wheat rises on reports of Russian missiles crossing into Poland


- Chicago Board of Trade wheat futures settled higher on Tuesday as reports of Russian missiles crossing into Poland sparked fears about escalating political tensions that lifted grain markets, analysts said.

  • CBOT December soft red winter wheat WZ2 closed up 9-3/4 cents at $8.28-1/4 a bushel

  • K.C. December hard red winter wheat KWZ2 ended 6-3/4 cents higher at $9.63 a bushel and MGEX December spring wheat MWEZ2 rose 11 cents to finish at $9.74.

  • Expectations that Russia and Ukraine would renew an agreement for Ukrainian grain exports had pressured U.S. wheat futures earlier in the day, traders said.

  • Euronext wheat fell to a fresh two-month low on growing optimism that the grain export corridor from Ukraine will be extended, traders said.

  • Russian Foreign Minister Sergei Lavrov said the United Nations had told him of written U.S. and EU promises to remove obstacles to the export of Russian grain and fertilisers.


(Reporting by Tom Polansek; Editing by Richard Chang)

((Thomas.Polansek@thomsonreuters.com; https://twitter.com/tpolansek))