CBOT wheat rises on Black Sea export disruptions

• The largest Ukrainian drone attack reported so far on the Moscow region killed three people and damaged an oil refinery, while an overnight Russian attack on the Kyiv region killed four people, authorities said on Sunday.
• Russian companies have been re-purposing fertilizer, coal, and other cargo terminals at Russia's Baltic and Arctic ports to handle grain exports after Ukrainian drone attacks disrupted shipments through the Black Sea, five sources said.
• Russia was working with Turkey to ensure the safety of shipping in the Black Sea, the Interfax news agency reported.
• Russia, the world's biggest wheat exporter, also abolished export duties on grain until the end of 2026, state news agency RIA reported.

• In the U.S., farmers have started planting their 2027 winter wheat crop. Analysts, on average, expect the USDA on Monday to report winter wheat planting at 16% complete, up from 8% a week earlier, according to a Reuters poll.
• CBOT December soft red winter wheat WZ26 settled up 12-1/2 cents at $7.26-3/4 per bushel.
• K.C. December hard red winter wheat KWZ26 ended up 10-3/4 cents at $7.94-1/2 a bushel, and Minneapolis December spring wheat MWEZ26 was 4-1/4 cents higher at $7.46-1/4 a bushel.

Chicago Board of Trade wheat futures finished higher on Monday after drone attacks by Ukraine and Russia reduced hopes for a de-escalation in fighting that has virtually stopped their Black Sea grain exports.