SINGAPORE- Chicago wheat slid on Wednesday as top grain exporter Russia agreed to stop attacking energy facilities temporarily in rival supplier Ukraine, even though it declined to endorse a full ceasefire.
Corn fell for a second session with pressure from expectations of higher planting in the United States this year, while soybeans ticked higher.
“There is some good news on the war front but it is sentiment driven rather than anything else,” said Ole Houe, director of advisory services, Ikon Commodities in Sydney.
“Getting supplies was never an issue from the Black sea, apart from the first two months of the war.”
The most-active wheat contract on the Chicago Board of Trade (CBOT) gave up 0.9 percent to $5.60 a bushel and corn fell 0.2 percent to $4.57-3/4 a bushel. Soybeans were up 0.2 percent at $10.14-3/4 a bushel.
Russian President Vladimir Putin agreed on Tuesday to temporarily stop attacking Ukrainian energy facilities but declined to endorse a full 30-day ceasefire that US President Donald Trump hoped would be the first step toward a permanent peace deal.
