Global wheat price falls as Russia-Ukraine hold talks

Bloomberg writers Megan Durisin and Allison Nicole Smith reported yesterday that, “Benchmark wheat and corn futures tumbled by the maximum allowed in Chicago trading as Russia signaled it may ease its attack in some parts of Ukraine, one of the world’s key sources of grain.” Durisin and Smith explained that, “Russia said it would cut back military activity near the cities of Kyiv and Chernihiv. A pullback on Russia’s month-old invasion could ease some of the disruptions to global grain markets wrought by the war. “Wheat futures sank as much as 8% to $9.72 a bushel, dipping below the $10 mark for the first time since the beginning of the month. Later, wheat erased some of those losses, closing the trading session at $10.1425 a bushel. Corn extended its decline, falling as much as 4.7% to $7.1350 a bushel, a four-week low, before settling at $7.2625, and Minneapolis wheat also dropped by the maximum allowed earlier in the trading session.” Dow Jones writer Kirk Maltais reported ...