CHICAGO. – Chicago wheat, corn and soybean futures firmed on Friday after the US Department of Agriculture (USDA) assessed global supply and demand, reflecting the impact that Russia’s invasion of Ukraine has had on Black Sea exports.
Grain prices remained underpinned by Russia’s six-week-old invasion, which has stalled large amounts of Ukrainian exports of wheat, corn and sunflower oil. Russia calls its actions in Ukraine a “special operation.”
Soybean and corn futures remain elevated, supported by reduced production in South America and questions of US acreage decisions as planting nears.
The most-active wheat contract on the Chicago Board of Trade (CBOT) gained 33 cents to $10.58-1/4 per bushel, adding 7.49 percent for the week, its biggest weekly gain since March 4.
