CBOT wheat falls to 2-week low after Trump reveals agreement to halt strikes on energy infrastructure

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Summary · why it matters

December wheat futures on the CBOT commodities market fell 3.25 cents, or 0.45%, to close at $7.2200 per bushel on Monday, September 14, after touching an intraday low of $7.1000 per bushel, the weakest level since August 26. Prices slid after U.S. President Donald Trump said Ukraine and Russia had reached a mutual agreement not to strike each other's energy infrastructure targets. Meanwhile, November soybean futures rose 7.75 cents, or 0.60%, to close at $13.0425 per bushel, lifted by a 2% jump in crude oil prices amid Middle East tensions and concerns that heavy rain across the Midwest, including Iowa, will delay the harvest. December corn futures rose 3 cents, or 0.57%, to close at $5.3325 per bushel, tracking soybeans and crude oil. After the close, the U.S. Department of Agriculture reported that the corn harvest was 8% complete and the soybean harvest 6% complete, above the five-year averages of 6% and 3% respectively. U.S. soybean export inspections for the latest week totaled 672,759 tons, above the market's expected range of 300,000 to 600,000 tons, ahead of Chinese President Xi Jinping's trip to Washington.

Impact on assets 3

Others± Mixed · 3 stocks
⛏Chicago SRW Wheat Futures
WHEAT
▼ NegativeGeopoliticsrelevance

Wheat fell to a 2-week low after Trump said Ukraine and Russia agreed to halt strikes on each other's energy infrastructure.

⛏Soybean Futures
SOYBEAN
▲ PositiveDemandrelevance

Soybeans rose on strong export inspections of 672,759 tons, above expectations, ahead of Xi's Washington trip.

⛏Corn Futures
CORN
▲ PositiveSupplyrelevance

Corn rose tracking soybeans and crude oil, with heavy Midwest rain threatening to delay harvest.

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