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PARIS/SINGAPORE — Chicago wheat consolidated on Friday

close to a six-month low struck a day earlier because the market remained capped by

sluggish U.S. exports and scope for elevated Black Sea shipments.

Corn and soybeans edged decrease as forecasts pointing to extra rain within the

Midwest on the finish of the week tempered issues concerning the results of current

dryness.

A agency greenback, as financial worries inspired shopping for of the U.S. foreign money as

a secure haven, additionally curbed Chicago grains by making them dearer abroad.

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Probably the most-active wheat contract on the Chicago Board of Commerce (CBOT) was up

0.6% at $7.53-1/2 a bushel by 1058 GMT, after hitting its lowest since Feb. 3 on

Thursday.

For the week, the market is down 6.5%, the largest loss since mid-July.

Shipments of Ukrainian grain proceed to go away Black Sea ports underneath a

wartime hall settlement, whereas merchants have reported falling export costs

for wheat in each Ukraine and Russia, which is making an attempt to shift an anticipated

document harvest.

“Ukrainian grain flows have picked up steam, and that is serving to to push

down international wheat costs,” in accordance with a Hightower report.

A gathering on Thursday between Ukrainian President Volodymyr Zelenskiy,

Turkish counterpart Tayyip Erdogan and U.N. chief Antonio Guterres additionally fueled

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market chatter about attainable negotiations to finish the conflict with Russia, though

analysts stay cautious about Black Sea export prospects.

“Typically talking, the provision outlook stays constructive, although it’s nonetheless

fraught with appreciable uncertainty, which argues in opposition to any pronounced fall

in wheat costs,” Commerzbank mentioned in a notice.

Export gross sales of U.S. wheat through the week ended Aug. 11 have been simply 207,200

tonnes, a advertising yr low.

CBOT corn was down 0.5% at $6.13 a bushel, whereas soybeans have been

0.8% decrease at $13.93-1/2 a bushel, retaining each crops on track for a weekly

loss.

Bettering climate in elements of the U.S. Midwest countered help from

stronger than anticipated weekly U.S. soybean export gross sales, which had helped

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Chicago soybeans finish larger on Thursday.

Rain and cooler temperatures in Europe this week have additionally taken consideration

away from drought losses to corn there, though merchants mentioned sizzling climate

forecast subsequent week could restrict reduction for crops.

Argentina’s corn harvest for the present 2021/2022 season is estimated to

attain 52 million tonnes, in accordance with information launched by the Buenos Aires Grains

Trade on Thursday, up sharply from final week’s 49 million tonne forecast.

Costs at 1058 GMT

Final Change Pct Finish Ytd Pct

Transfer 2021 Transfer

CBOT wheat 753.50 4.50 0.60 770.75 -2.24

CBOT corn 613.00 -2.75 -0.45 593.25 3.33

CBOT soy 1393.50 -11.75 -0.84 1339.25 4.05

Paris wheat 313.00 -0.75 -0.24 276.75 13.10

Paris maize 307.50 -0.25 -0.08 226.00 36.06

Paris rape 595.50 -8.50 -1.41 754.00 -21.02

WTI crude oil 88.63 -1.87 -2.07 75.21 17.84

Euro/dlr 1.01 0.00 -0.29 1.1368 -11.51

Most lively contracts – Wheat, corn and soy US cents/bushel,

Paris futures in euros per tonne

(Reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore; Enhancing by

Subhranshu Sahu and Shinjini Ganguli)