Wheat prices in Chicago rose slightly, but remained near their lowest levels in several months, as traders await the outcome of peace talks between Russia and Ukraine, which could boost global supplies by restarting grain exports via the Black Sea. Russian wheat export prices fell last week amid falling demand, analysts said, as market participants closely follow the direct negotiations taking place today. Attacks on shipping in the Black Sea have dampened Russian and Ukrainian grain exports in recent months, but the market has not tightened as much as some had expected. New deliveries from Australian and Argentinian harvests over the coming months would help contain prices, even if exports from the Black Sea remained limited, analyzes Nick Carraccher, CEO of the consultancy firm Lachstock.
Ukraine-Russia talks live: Washington calls for a “new” security framework with Europe
Negotiations between kyiv and Moscow, under American mediation, began Tuesday in Abu Dhabi after months of interruption, with the hope of progressing towards a settlement of the conflict and, according to Washington, of working on a "new" security framework including Europe. Follow our live stream.
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