Commodities
Black Sea Grain Export Disruptions Weigh on Wheat Prices
Chicago wheat prices fell by 0.32% on Monday as markets weighed the impact of diplomatic efforts to ease disruptions to Black Sea grain exports from Russia and Ukraine.
Ukraine's President Volodymyr Zelenskiy said last Friday that India, Turkey, Egypt, and other Middle Eastern countries were participating in talks aimed at unblocking shipping in the Black Sea region.
Russia could quickly restart up to 80% of its grain terminal capacity in the Black Sea if diplomatic efforts lead to a ceasefire, according to a Reuters analysis of industry data.