Commodities
Wheat Futures Plummet on Black Sea Conflict Hopes
Wheat futures on the Chicago Board of Trade fell on Monday after hopes emerged for a reduction in tensions in the Black Sea conflict that has disrupted grain shipments from the region.
The December soft red winter wheat contract settled down 3-1/4 cents at $7.22 per bushel, marking its lowest point since August 26 when it reached $7.10 during the session.
Minneapolis December spring wheat fell by a larger margin, dropping 8-3/4 cents to close at $7.36-1/4 per bushel, while Kansas City December wheat ended down 6 cents at $7.92-1/2 per bushel.
The market reversed early gains and moved lower after President Donald Trump posted on social media that Ukraine and Russia had agreed not to target each other's energy infrastructure.