CBOT wheat surges on Black Sea attacks, production estimates

- Chicago Board of Trade wheat futures reached two-year highs on Wednesday on renewed attacks on Black Sea grain ports, while lower U.S. production estimates also added support.

  • CBOT September soft red winter wheat WU26 settled up 27-3/4 cents at $7.05-3/4 per bushel, reaching highs not seen since May 2024.

  • K.C. September hard red winter wheat KWU26 ended up 30-1/2 cents at $7.63-1/2 a bushel and Minneapolis September spring wheat MWEU26 rose 24-3/4 cents to finish at $7.29 a bushel.

  • Crop scouts on the first day of an annual three-day tour of North Dakota's hard red spring wheat crop projected an average yield in the southern portion of the state at 46.0 bushels per acre.

  • Russia attacked two Ukrainian Black Sea port cities on Friday, killing three people, officials said, while Ukraine pressed on with its own campaign to disrupt logistics for Moscow's military and isolate Russia-annexed Crimea.

  • Russia has introduced a temporary ban on vessel movements in and out of the port of Novorossiysk between midnight and 5 a.m. because of Ukrainian drone attacks, three grain industry sources said on Wednesday.