Wheat prices declined to about $7 per bushel, their lowest level since August 25, as renewed diplomatic efforts between Russia and Ukraine boosted hopes for progress toward restoring Black Sea shipping routes. Ukrainian President Volodymyr Zelenskyy said his talks with US President Donald Trump focused on ways to end the four-year conflict, including the possibility of a bilateral ceasefire aimed at protecting energy infrastructure.
Zelenskyy added that Kyiv is ready to consider any format for an energy truce with Moscow, but emphasized that there have been no discussions about Ukraine unilaterally halting strikes on Russian oil refineries. The ongoing Russia-Ukraine conflict has disrupted Black Sea exports, forcing importers to seek alternative suppliers.
In parallel, the US Department of Agriculture reported earlier this week that US winter wheat planting was 17% complete as of Sunday, lagging behind the five-year average of 21%.
