PARIS/SINGAPORE: Chicago wheat rose for a second session on Wednesday after a Russian attack on a Ukrainian port rekindled concerns over Black Sea trade.
Soyabeans fell back as traders assessed rain relief in Brazil after torrid weather hampered the planting campaign.
Corn was little changed as investors also adjusted positions before Thursday’s Thanksgiving holiday in the United States.
The most-active wheat contract on the Chicago Board of Trade (CBOT) was up 0.6% to $5.86-1/2 a bushel at 1339 GMT, after earlier rising to its highest since Nov. 9 at $5.91-1/2.
News on Tuesday that Russia hit port infrastructure in Ukraine’s southern city of Odesa brought back into focus risks to Kyiv’s recently established wartime shipping channel through the Black Sea.
“This has somewhat dampened the optimism of recent weeks that Ukrainian exports are picking up,” consultancy Agritel said in a note.
The wheat market has also seen a clutch of tenders by importers this week, suggesting a recent price slide is stirring demand.
CBOT soyabeans fell 0.8% to $13.66-1/4 a bushel and corn inched down 0.1% to $4.70-1/4 a bushel.
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