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CBOT Wheat on Track for Third Consecutive Weekly Gain Amid Black Sea Supply Concerns

2026-07-17 02:59:08

WHEAT-0.52%

According to reports, CBOT wheat fell on Friday (July 17) but is on track to record gains for a third consecutive week, supported by supply concerns in the Black Sea region. Ukraine's infrastructure damage has disrupted exports and closed the Strait of Kerch, while deteriorating crop conditions in the United States also bolster wheat prices. Market analysts note that while individual disruptions have limited impact, sustained intermittent interference in a tight supply environment could accumulate to provide significant price support. CBOT soybeans and corn are also expected to record weekly gains this week, largely driven by wheat's strength.

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