Exchange prices for wheat have risen due to the lack of progress in negotiations on the grain corridor.

During trading at 0235 GMT, the most actively traded wheat contract on the Chicago Board of Trade (CBOT) increased by 3 percent, reaching $7.56-1/2 per bushel. Positive dynamics were also recorded for other crops: corn rose in price by 0.7 percent ($5.40-1/4 per bushel), and the value of soybean grew by 0.2 percent ($13.12 per bushel).

Market activity is linked to the results of meetings between U.S. special envoys Jared Kushner and Steve Witkoff with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy. According to market participants, the diplomats' visits did not lead to a breakthrough that would allow the resumption of grain exports through the Black Sea. Mutual attacks by the parties on port and transport infrastructure have practically paralyzed export shipments from the region, forcing buyers to seek alternative suppliers. Earlier it became known that importers from Asia have already contracted at least half a million metric tons of wheat from Australia and Argentina.

Soybean prices are supported by data on China's purchases of American products, as well as farmers' concerns regarding hot and dry weather in major U.S. production regions. According to customs statistics, for the period from January to August, China imported 74.11 million metric tons of soybean, which is 1.1 percent higher than last year's figures, although in August the volume of supplies decreased by 1.1 percent to 12.14 million tons. The United States Department of Agriculture also reported the sale of 192,000 tons of soybean to China for delivery in the 2026/27 marketing year.

Corn prices are being kept from falling due to expectations of low yield in the U.S. "Corn Belt". Further attention of grain market players is focused on the upcoming publication of the U.S. Department of Agriculture's monthly supply and demand forecasts, which is scheduled for Friday.