{"id":15794,"date":"2024-11-19T07:25:01","date_gmt":"2024-11-19T07:25:01","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=15794"},"modified":"2024-11-19T07:25:01","modified_gmt":"2024-11-19T07:25:01","slug":"wheat-eases-as-black-sea-tensions-persist","status":"publish","type":"post","link":"https:\/\/www.global-vtrader.com\/en\/analysis\/wheat-eases-as-black-sea-tensions-persist\/","title":{"rendered":"Wheat Eases as Black Sea Tensions Persist"},"content":{"rendered":"\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>Key Points:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Wheat futures closed at $5.414, down 0.51%, after briefly reaching $5.467 during intraday trading.<\/li>\n\n\n\n<li>Easing Black Sea tensions and improved U.S. crop conditions kept prices under pressure.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p class=\"wp-block-paragraph\">Chicago wheat futures stabilised on Tuesday, closing at $5.414 per bushel after touching an intraday high of $5.467.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The market pulled back 0.51% during the session, as concerns over escalating Black Sea tensions faded, and improved U.S. crop conditions capped gains.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2024\/11\/image-32-1024x437.jpeg\" alt=\"\" class=\"wp-image-15796\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em>Picture: Wheat prices hold steady near $5.42 after recent gains, with momentum slowing at resistance levels, as seen on the <a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\" title=\"\">VT Markets app<\/a>.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The decline reflects easing concerns following the White House\u2019s move to lift restrictions on Ukraine using U.S.-supplied missiles for strikes on Russian territory.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Joe Biden&#39;s decision to lift some restrictions blocking Ukraine from using US-supplied weapons for striking deeper into Russian territory is an important step but not a &#39;game change&#39;, an analyst says <a href=\"https:\/\/t.co\/uQ7jNwHM30\">https:\/\/t.co\/uQ7jNwHM30<\/a> <a href=\"https:\/\/t.co\/bHsIbswhSu\">pic.twitter.com\/bHsIbswhSu<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/1858723122373161477?ref_src=twsrc%5Etfw\">November 19, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>Wheat Market Balances Risk and Supply Factors<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">While the growing conflict in the Black Sea initially supported wheat prices, the gains faded as the market digested news of Ukraine\u2019s plans for long-range missile strikes in the coming days.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Analysts at Bergman Grains Research cautioned against bearish sentiment in wheat, citing tight global supplies projected near multi-year lows.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/t.co\/nJHPjbvsQc\">Improved U.S. winter wheat crop<\/a> conditions added to bearish sentiment. The USDA\u2019s weekly crop condition report revealed better-than-expected improvements following much-needed rainfall in the Plains, alleviating some concerns about domestic supply.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>See also: <a href=\"https:\/\/www.vtmarkets.com\/analysis\/dollar-index-holds-despite-market-caution\/\">Dollar Index Holds Despite Market Caution<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Meanwhile, Russian wheat export prices have declined, reflecting global trends, as strong exports continue ahead of a planned export quota later this season.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>Global Trade Agreements<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The market remains alert to potential escalations in the Black Sea conflict, which could disrupt grain exports and increase volatility in wheat prices.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Additionally, <a href=\"https:\/\/t.co\/4SYWOKNa5u\">Brazil\u2019s impending trade agreements with China<\/a>, expected to cover key agricultural commodities such as fruit, beef, and pork, could shift global trade dynamics, particularly for soybeans and related products.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>Cautious Market Outlook<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Wheat prices may remain range-bound in the near term as traders monitor developments in the Black Sea region and domestic crop conditions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Traders should stay alert to geopolitical updates and agricultural trade agreements, particularly Brazil\u2019s announcements with China, as these factors could influence short-term price movements across the grain and oilseed complex.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">Create your live VT Markets account<\/a>\u00a0and\u00a0<a href=\"https:\/\/myaccount.vtmarkets.com\/login\">start trading<\/a>\u00a0now.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chicago wheat futures edged lower after overnight gains on Black Sea tensions. &#8211; vtmarkets.com<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[27],"tags":[44],"class_list":["post-15794","post","type-post","status-publish","format-standard","hentry","category-analysis","tag-commodities"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/15794","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/comments?post=15794"}],"version-history":[{"count":0,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/15794\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/media?parent=15794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/categories?post=15794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/tags?post=15794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}