BEIJING, – Chicago wheat futures edged lower on Monday, as concerns over supply from the Black Sea region eased following a meeting between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskiy on Sunday.
Soybeans and corn both ticked lower in light trading.
* The most-active wheat contract on the Chicago Board of Trade eased 0.1% to $5.18-1/2 a bushel by 0102 GMT.
* CBOT soybeans lost 0.07% to $10.71-3/4 a bushel. Corn dipped 0.11% to $4.49-1/2 a bushel.
* Zelenskiy said on Monday he and Trump made significant progress in talks and agreed that U.S. and Ukrainian teams would meet next week to finalise issues aimed at ending Russia’s war in Ukraine.
* Wheat futures had gained last week over worries about an escalation in the war in the Black Sea export zone. Ukraine is one of the world’s biggest exporters of wheat and corn.
* Trading remained light after the Christmas holiday and as the year-end approached, with many traders booking profits and exiting the market.
* A lack of fresh news in corn and soybeans has also given market players little incentive to trade.
* Soybeans continued to face pressure from ample global supplies, while strong U.S. corn demand helped stabilise corn futures.
* Analysts pointed to dryness as a risk to the dormant wheat crop in the U.S. Plains, and concerns also grew for the corn crop in southern Argentina, where rains have largely bypassed the region.
This article was generated from an automated news agency feed without modifications to text.
