Wheat retreats as climate risk eases in the market

The international wheat market closed the session with a predominance of declines, reflecting adjustments in climate and geopolitical expectations that had been sustaining risk premiums in recent weeks. According to TF Agroeconômica, the reduction in climate concerns in the Black Sea region directly influenced the behavior of quotations in the main futures markets. In Chicago, soft red winter wheat recorded a fall in the March contract, closing at $526.75 per bushel, while the May expiry also retreated, at $536.25 per bushel. Kansas hard red winter wheat showed an even more negative performance, with the March contract closing at $530.25 per bushel. In Minneapolis, hard red spring wheat for March ended the day quoted at $566.00 per bushel. In Europe, milling wheat traded in Paris diverged from the American movement and closed with a slight increase, at €193.75 per tonne. The downward movement was mainly associated with information from the Black Sea, where authorities from Ukraine ...