US wheat rises on Black Sea disruptions

PARIS/SINGAPORE: Chicago wheat edged higher on Wednesday as fresh disruptions to Black Sea grain exports renewed concerns about supplies, after Russia and Ukraine continued attacks on vessels and port infrastructure in the region.

Corn and soybeans eased.

“Ports remain severely disrupted, but the markets appear to believe that this situation will not last, which is keeping the geopolitical risk premium in check,” a French trader said.

The most active wheat contract on the Chicago Board of Trade (CBOT) was up 0.3percent at USD6.64-1/2 a bushel at 1143 GMT. Soybeans lost 1percent to USD12.07-3/4 a bushel and corn fell 0.5percent at USD4.78 a bushel.