US wheat rises on Black Sea disruptions
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Agriculture employees operate a combine during harvesting wheat in a field which was partially burned after Russian drone strike, amid Russia's attack on Ukraine, in Zaporizhzhia region, Ukraine July 23, 2026. REUTERS/Stringer
PARIS/SINGAPORE, July 29 (Reuters) - Chicago wheat edged higher on Wednesday as fresh disruptions to Black Sea grain exports renewed concerns about supplies, after Russia and Ukraine continued attacks on vessels and port infrastructure in the region.
Corn and soybeans eased.
"Ports remain severely disrupted, but the markets appear to believe that this situation will not last, which is keeping the geopolitical risk premium in check," a French trader said.
The most active wheat contract on the Chicago Board of Trade (CBOT) was up 0.3% at $6.64-1/2 a bushel at 1143 GMT. Soybeans lost 1% to $12.07-3/4 a bushel and corn fell 0.5% at $4.78 a bushel.
Concerns over Black Sea exports were reinforced after three major Russian grain terminals restricted truck deliveries, citing heightened shipping risks following recent attacks and changes to grain flows after restrictions in the Sea of Azov.
A missile strike also hit the Russian port city of Taganrog, a grain-export hub on the Sea of Azov, underscoring the security risks facing the region's supply chains.
After the market closed on Monday, the U.S. Department of Agriculture said that 63% of the country's corn crop was rated "good-to-excellent" condition, as of Sunday, down from 67% a week earlier.
Ratings for soybeans fell to 63% from 66%, it said. Ratings for both crops were below analysts' average estimates.
Meanwhile, China's Sinograin said on Tuesday it would auction about 500,000 metric tons of imported soybeans on Friday, its largest such sale since January, in a move traders said could help free storage capacity ahead of new U.S. soybean arrivals.
Separately, Brazil is seen exporting a record 115.4 million tons of soybeans in 2026, crushers group Abiove said on Tuesday, raising its outlook by 1.1% from a June projection while also increasing its estimate for soy crushing.
Last Change Pct Move
CBOT wheat 664.50 2.00 0.30
CBOT corn 478.00 -2.50 -0.52
CBOT soy 1207.75 -12.25 -1.00
Paris wheat 227.75 0.00 0.00
Paris maize 247.00 -1.50 -0.60
Paris rapeseed 491.25 44.25 9.90
Euro/dlr 1.14 0.000 -0.02
Most active contracts - Wheat, corn and soy US
cents/bushel, Paris futures in euros per ton
(Reporting by Naveen Thukral in Singapore and Sybille de La Hamaide in Paris. Editing by Sherry Jacob-Phillips and Mark Potter)
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