Wheat Hits One-Month Low
Wheat fell to around $7 per bushel, hitting its lowest level since August 25, as renewed diplomatic efforts between Russia and Ukraine raised hopes for progress toward restoring Black Sea shipping. Ukrainian President Volodymyr Zelenskyy said talks with US President Donald Trump focused on efforts to end the four-year-old war, including the possibility of a ...
Wheat prices dropped to their lowest point in a month, reaching approximately $7 per bushel, according to the latest data. This significant decline occurred on August 25, following renewed diplomatic efforts between Russia and Ukraine. The prospect of progress in restoring Black Sea shipping has lifted hopes, as talks between Ukrainian President Volodymyr Zelenskyy and US President Donald Trump centered on ending the ongoing four-year conflict.
Discussions revolved around a potential bilateral ceasefire aimed at protecting energy infrastructure. Zelenskyy also indicated that Kyiv was open to considering various formats for an energy truce with Moscow, although no talks had taken place regarding Ukraine suspending strikes against Russian oil refineries on its own. The Russia-Ukraine conflict has disrupted Black Sea shipments, prompting buyers to seek alternative sources.
Simultaneously, the US Department of Agriculture reported that US winter wheat planting had reached only 17% completion as of Sunday. This figure fell short of the five-year average of 21%.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.