Noor Trends News, Technical Analysis, Educational Tools and Recommendations
US wheat futures fell 4% and corn futures fell 4% on Tuesday, as comments from Russia and Ukraine, following talks in Turkey, revived hopes for a ceasefire in a conflict that has disrupted major grain exports from the Black Sea region.
The Chicago Board of Trade May wheat futures fell about 42 cents to about $10.14 a bushel at settlement, while the May corn contracts ended trading down about 22 cents to $7.26 a bushel, and soybeans fell about 21 cents to $16.43 a bushel.
The wheat market has been in turmoil since the start of the war between Russia and Ukraine on February 24, because both countries are major wheat exporters, while Ukraine is also a major global supplier of corn.
The Nasdaq Composite Index jumped 1.01 percent to 14,500.39 points.
