CBOT wheat ends higher as Russia-Ukraine hostilities persist
WEAT•Crop and harvest updates
The soft wheat harvest in France was 92% finished, 13 days ahead of the five-year average, FranceAgriMer said.
Market players await findings from the Wheat Quality Council's annual U.S. spring wheat crop tour next week, which will conclude in Fargo, North Dakota, on July 23.
Black Sea tensions support prices
Wheat futures have been supported this month by drone attacks on vessels in the Black Sea and the Sea of Azov as Russia and Ukraine stepped up hostilities in a zone vital for grain exports.
Russia attacked two Ukrainian Black Sea port cities on Friday, killing three people, officials said, while Ukraine pressed on with its own campaign to disrupt logistics for Moscow's military and isolate Russia-annexed Crimea.
As Black Sea tensions escalated, managed commodity funds halved their net short position in CBOT wheat futures in the week ended July 14, according to weekly data released after the CBOT close by the U.S. Commodity Futures Trading Commission.
Wheat futures rise on Black Sea disruption fears
Chicago Board of Trade wheat futures rose on Friday on fears of grain export disruptions from the Black Sea region as hostilities between Russia and Ukraine continued, traders said.
- CBOT September soft red winter wheat WU26 settled up 8 cents, or 1.2%, at $6.82-3/4 per bushel, but stayed below Thursday's two-month high of $6.98-1/4.
- For the week, the contract rose by a bushel, or , following last week's rise.
