Wheat and corn futures have softened on prospects of a grain export corridor for Ukraine.
StoneX commodity broker Craig Turner says Russia and NATO officials are expected to meet June 8th.
“That does cause basically the world to now second guess how tight are exports going to be for old crop and new crop. So we saw wheat lead that market lower, everything else had to follow.”
He tells Brownfield wheat futures have lost about $2 and the more friendly Black Sea news helped drag corn lower too.