Grains-Chicago wheat stays at three-year high on Black Sea tensions
MOO•Corn and soybeans also rally on yield and demand concerns
In Ukraine, the country's 2027 planting campaign is at risk because farmers may lack the funds to sow crops after Russia's blockade of sea ports sharply curtailed exports, officials said on Thursday.
In Russia, meanwhile, farmers and market analysts expressed scepticism on Thursday about measures to maintain grain exports, with some calling for a cut to the winter sowing area in order to avoid a collapse in domestic prices.
Traders are monitoring a shift in demand away from Russia and Ukraine, with some importers turning to European Union countries like Romania, France and Poland.
CBOT corn Cv1 rose 1.2% to $5.40 a bushel after setting a new three-year peak. CBOT soybeans Sv1 gained 1.0% to $12.80-1/2 a bushel, after reaching another 2-1/2-year peak.
A major Midwest field tour last week found subpar crops due to adverse summer weather, estimating that U.S. 2026 corn production would fall well below government forecasts.
