Commodities
Chicago Wheat Futures Rebound on Weaker Dollar and Black Sea Tensions
Chicago wheat futures rebounded from a four-week low on Friday, supported by a weaker US dollar and reports of attacks in the Black Sea export zone.
The most-active CBOT wheat contract ended 8-1/2 cents higher at USD6.39-3/4 per bushel.
Traders have been weighing disruption to shipments from Russia and Ukraine against large global supply, including in the Black Sea region, and slow demand from importers.
'The grain is there,' said Commonwealth Bank analyst Dennis Voznesenski. 'The big question now is whether they can get it out.'
China has bought at least 10 more cargoes of US soybeans, traders said on Thursday, the latest in a flurry of purchases ahead of President Xi Jinping’s expected US visit next month.