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Commodities

Wheat Futures Rally Amid Disruptions in Black Sea Shipping and Tighter Supplies

Guavy AI Editorial Team
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Wheat
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The global wheat market has been experiencing a firmer tone over the past week due to tightening supplies among major exporters and continued disruptions to Black Sea shipping.

Spring wheat futures have rallied, with Minneapolis up around 3% to $6.96/bu, Chicago up 2.9% to $6.84/bu, and Kansas City up 1.3% to $7.54/bu.

The International Grains Council's latest report forecasts world wheat production near 817 MMT, with consumption at roughly 826 MMT, implying a modest drawdown in inventories.

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