Wheat futures closed higher for the fifth straight day on Wednesday, as hostilities in the Black Sea region once again supported. Corn and soybeans ended mostly in the black as well.
With today’s advance, the benchmark Chicago wheat market marked its longest rally since April, said the Barchart commentary. Russian forces launched a missile and drone attack across Ukraine on Tuesday, killing civilians and damaging energy and port facilities in the Odesa region on the Black Sea, according to Ukrainian officials. Dryness is also building in US Hard Red Winter wheat-growing regions, adding support for prices, the commentary added. March Chicago was up 4 ¾ cents at $5.21 ¾, and March Kansas City gained 6 cents to $5.34. March Hard red Spring was 1 ½ cents higher at $5.68 and March Minneapolis was steady at $5.80 ¼.
Good export demand and the advances in wheat helped to boost corn. Export sales data has total US corn export commitments to Dec. 11 at 47.579 million tonnes, which is nearly one-third above last year. March corn was 3 ½ cents higher at $4.51, and December 2026 added 2 ¾ cents to $4.67.
Positioning ahead of the Christmas holiday lifted soybeans. March beans rose 12 ¾ cents to $10.76 ½, and new-crop November was 11 cents higher at $10.84.
US markets closed early today for Christmas Eve and will remain closed tomorrow for Christmas. American markets will reopen on Friday.
