Chicago wheat, corn dip as Black Sea tensions ease

Chicago wheat and corn edged lower on Thursday, as concerns about a military escalation in the Black Sea grain export region eased, with ample global wheat supplies continuing to weigh on prices. The most-active wheat contract on the Chicago Board of Trade (CBOT) ZW1! lost 0.05% to $5.38 a bushel, as of 0344 GMT, while corn ZC1! dipped 0.17% to $4.42-3/4 a bushel. Fears of disruption to Black Sea grain shipments eased after a five-hour Kremlin meeting between Russian President Vladimir Putin and U.S. President Donald Trump’s top envoys, even though no agreement was reached to end the war in Ukraine. Putin had threatened to sever Ukraine’s access to the Black Sea following drone attacks on Russian-linked vessels. Soybean futures ZS1! rose 0.04% to $11.16-1/4 a bushel, after three straight sessions of consecutive declines, as traders tracked the pace of Chinese purchases of U.S. supplies. U.S. Treasury Secretary Scott Bessent said on Wednesday that China was poised to complete its ...