Wheat Market Waits for Trigger as Supply Disruptions Continue

The wheat market is experiencing a choppy few days due to systematic profit-taking that has shifted some of the heat out of the supply-squeeze-driven buoyancy.

Ukrainian and Russian grain exports in August were around half the levels recorded a year ago, largely due to continued attacks on grain infrastructure.

Russia has cancelled export duties on wheat, corn, and barley to keep grain moving, but major importers appear content to buy hand-to-mouth while they wait for a diplomatic solution to reopen export channels.