Black Sea

Matt Bennett, AgMarket.Net, says wheat was up for a third day continuing to see short covering by managed money traders and adding war premium. However, corn could not follow with soybeans as an anchor.

The Kremlin said there was no link between the attack and suspending the deal, which lets Ukraine export grain through the Black Sea. Instead, it occurred over a failure to ease rules for food and fertilizer exports.

Several grain companies announced plans to stop Russian grain exports as of July 1. As Russia tries to take control of its domestic grain industry, analysts think it will ultimately hurt Russian grain farmers.