Chicago wheat futures rose 1.5% on Monday, as Russia’s invasion of Ukraine curbed wheat exports from the Black Sea region, a key supplier, and fuelled concerns over tight global supply, while corn and soybeans lost ground.
The most-active Chicago Board of Trade wheat (CBOT) was up 1.5% at $/4 a bushel, as of 0402 GMT. Corn dropped 0.9% to /2 a bushel and soybeans lost 0.7% to $/4 a bushel.
As many as 60 people are feared to have been killed when a bomb struck a village school in eastern Ukraine, the regional governor said on Sunday, while Russian forces continued shelling the last holdout of Ukrainian resistance in the ruined southeastern port of Mariupol.
In China, soybean imports in the first four months of the year edged down, customs data showed on Monday.
China, the world’s top soybean importer, brought in 28.36 million tonnes during January-April, down 0.8% from the same period a year ago, data from the General Administration of Customs showed.
Commodity funds were net sellers of CBOT corn, soybean, soyoil and soymeal futures contracts on Friday, traders said, and net buyers of CBOT wheat futures.
