Wheat turns lower on Black Sea de-escalation hopes; soy, corn firm
DBA•Wheat falls on hopes of Black Sea de-escalation
U.S. wheat futures fell to their lowest level in more than two weeks on Monday on hopes of a de-escalation of the Black Sea conflict, while soybeans bounced on rising energy prices and the threat of Midwest harvest delays, analysts said.
Corn firmed, following soybeans and a 2% climb in crude oil, but wheat's retreat capped gains.
As of 11:59 a.m. CDT (1559 GMT), Chicago Board of Trade December wheat WZ26 was down 3-1/4 cents at $7.22 per bushel after dipping to $7.10, the contract's lowest since August 26.
Soybeans gain on crude oil and harvest-delay concerns
CBOT November soybeans SX26 were up 9-1/2 cents at $13.06 a bushel and December corn CZ26 was up 2-1/4 cents at $5.32-1/2 a bushel.
Wheat turned lower after U.S. President Donald Trump said that Ukraine and Russia had agreed not to hit each other's energy targets.
