Wheat Holds at 2-Month Low

AI Summary

Wheat prices held near $6.60 per bushel, their lowest level in two months and more than 13% below an August high. Increased Russian exports and expectations for a strong Australian harvest outweighed concerns about renewed attacks on Black Sea shipping.

Wheat hovered around $6.6 per bushel, the lowest in two months and more than 13% below the 3-1/2-year high of $7.67 reached on August 28, as rising Russian export volumes and expectations of a strong Australian harvest weighed on the market. Traders have largely overlooked renewed Black Sea shipping attacks, focusing instead on Russia’s growing ...