GRAINS- Wheat extends drop as traders monitor Black Sea export prospects
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Oil prices edged lower on Thursday, after climbing 4% in the previous session, as Iran said it remained open to diplomacy to end the US-Iran war, though the two countries remain far apart on ways to do so. O/R
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Wheat falls as Black Sea export outlook remains in focus
BEIJING, Sept. 23 (Reuters) - Chicago Board of Trade wheat futures continued to drop for a third straight session on Wednesday, past a four-week low, as traders monitor prospects for diplomatic efforts easing Black Sea export disruptions. Corn and soybeans gained.
The most-traded wheat contract on the Chicago Board of Trade (CBOT) Wv1 was down 0.4% at $7.05-1/2 a bushel by 0150 GMT. CBOT corn Cv1 gained 0.1% to $5.29-1/2 a bushel, while soybeans Sv1 rose 0.2% to $13.20-1/2 a bushel.
Diplomatic efforts and shipping disruptions shape grain trade outlook
Renewed diplomatic efforts to end the Ukraine war kept attention on the outlook for Black Sea agricultural exports.
Ukraine and Russia, both major grain suppliers, have voiced an interest in a limited ceasefire involving grain and energy-related targets, US Secretary of State Marco Rubio said after meeting Russian Foreign Minister Sergei Lavrov in New York.
