US wheat heads for biggest weekly gain in one month on Black Sea disruptions

Business Recorder reported from Singapore that Chicago wheat contracts gained on Friday, putting the grain on course for its strongest weekly performance in a month. Supply interruptions from the Black Sea, which the report links to the Russia-Ukraine conflict, provided the main support for prices. Soybeans and corn also strengthened, according to the same report.

Gains in the other two crops were tempered by forecasts of rain across the US Midwest, which curbed how far prices could climb. The mix of conflict-related supply concerns and weather outlooks shows how two forces can pull grain prices in different directions at once. The report offered no figures for the price moves, so readers get the direction of the market rather than the size of the gains.