Content ID

334778

GRAINS-Wheat eases on hopes for Black Sea corridor talks

* Chicago near flat after Thursday rally on corridor worries * Market eyes UN, Turkey talks with Moscow * Corn ticks down, soybeans firm (Updates with European trading, changes byline/dateline) By Gus Trompiz and Naveen Thukral PARIS/SINGAPORE, Oct 14 (Reuters) - Chicago wheat eased on Friday on hopes of progress in negotiations to maintain a Black Sea grain corridor after the previous day's warning by Moscow that it could quit the deal. Corn eased while soybeans edged higher as investors also wrestled with macroeconomic uncertainty after a higher than expected U.S. inflation reading. The most active wheat contract on the Chicago Board of Trade (CBOT) was down 0.8% at $8.85 a bushel by 0938 GMT. Wheat had rebounded on Thursday from two days of declines after Russia's Geneva U.N. ambassador told Reuters that Moscow could reject renewal of the corridor deal next month unless its demands are addressed. However, there were hopes of progress in negotiations after a meeting on Thursday between Russian President Vladimir Putin and Turkish counterpart Tayyip Erdogan and as U.N. officials continued consultations over the deal, which has allowed wartime grain exports from Ukraine's Black Sea ports. CBOT corn ticked down 0.4% to $6.95 a bushel while soybeans edged up 0.2% to $13.98-3/4 a bushel. A rise in the dollar, meanwhile, weighed on U.S. grain markets. Commodity funds were net buyers of CBOT wheat, corn, soybean and soyoil futures on Thursday and net even in soymeal futures, traders said. Prices at 0928 GMT Last Change Pct End 2021 Ytd Pct Move Move CBOT wheat 885.00 -7.25 -0.81 770.75 14.82 CBOT corn 695.00 -2.75 -0.39 593.25 17.15 CBOT soy 1398.75 3.00 0.21 1339.25 4.44 Paris wheat 353.00 -3.25 -0.91 276.75 27.55 Paris maize 340.00 -1.25 -0.37 226.00 50.44 Paris rape 633.00 -0.75 -0.12 754.00 -16.05 WTI crude oil 88.64 -0.47 -0.53 75.21 17.86 Euro/dlr 0.97 0.00 -0.44 1.1368 -14.41 Most active 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 Editing by Sherry Jacob-Phillips and David Goodman)

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