DBA•| Last | Change | Pct Move | |
|---|---|---|---|
| CBOT wheat Wv1 | 716.50 | -5.50 | -0.76 |
| CBOT corn Cv1 | 529.00 | -4.25 | -0.80 |
| CBOT soy Sv1 | 1298.75 | -5.50 | -0.42 |
| Paris wheat BL2c1 | 239.25 | -1.25 | -0.52 |
| Paris maize EMAc1 | 260.50 | -2.00 | -0.76 |
| Paris rapeseed COMc1 | 548.75 | -3.25 | -0.59 |
| WTI crude oil CLc1 | 102.40 | 1.01 | 1.00 |
| Euro/dollar EUR= | 1.15 | 0.00 | -0.06 |
Most active contracts - Wheat, corn and soy U.S. cents/bushel, Paris futures in euros per metric ton
Chicago wheat futures fell on Tuesday to near a two-week low after U.S. President Donald Trump announced that Ukraine and Russia had agreed to halt strikes on energy infrastructure, keeping market focus on diplomacy that could ease disruption to Black Sea grain trade.
The most-active wheat contract Wv1 on the Chicago Board of Trade was down 0.8% at $7.16-1/2 a bushel at 1142 GMT, trading near Monday's 2-1/2-week low of $7.10.
Wheat futures turned lower on Monday after President Trump announced a truce on strikes on Russia and Ukraine's energy facilities.
The statement revived hopes of de-escalation in the war that could potentially lead to a resumption of normal shipping flows through the Black Sea, though Russia and Ukraine both set conditions for accepting an energy truce while continuing strikes on each other's infrastructure.
"Trump said Russia and Ukraine had agreed to halt attacks on each other's energy infrastructure, but the agreement is far from confirmed," CM Navigator analysts wrote on Tuesday.
The wheat market is also watching for results from a tender on Tuesday by major importer Algeria to gauge the approach of buyers faced with prolonged disruption to Black Sea shipments.
Corn and soybeans eased, with investors also assessing U.S. harvest progress and an unexpected improvement in corn crop ratings.
CBOT soybeans Sv1 lost 0.4% to $12.98-3/4 a bushel and corn Cv1 dropped 0.83% to $5.29 a bushel.
After Monday's market close, the U.S. Department of Agriculture reported harvest progress at 8% for corn and 6% for soybeans, as of Sunday, ahead of their respective five-year averages of 6% and 3%.
A slight improvement in corn crop conditions, contrary to market expectations for a decline, also curbed corn prices.
However, the prospect of harvest delays in the Midwest offered some support to corn and soybean prices. Forecasts called for heavy rain across parts of the Midwest this week, potentially slowing fieldwork in Iowa, the largest U.S. corn-producing state and the second-largest soybean producer.
A wave of Chinese demand for U.S. soybeans, ahead of Chinese President Xi Jinping's expected visit to Washington this month, was also underpinning the oilseed market.
Firm crude oil prices, with Brent futures rising above $107 a barrel, also lent support to soybeans and corn, which are widely used for biofuel. O/R
