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Blog by Keith Good, University of Illinois

Bloomberg writer Allison Nicole Smith reported yesterday that, "Wheat futures fell in a broad slump in commodities as markets assessed Ukraine-Russia talks and traders awaited a Federal Reserve decision on U.S. interest rates this week. "

Smith explained that, "Chicago wheat rose as much as 3.8% earlier after Interfax initially reported Russia was considering a wider ban on exports. Interfax later specified the ban would only cover exports to the Eurasian customs union."

The Bloomberg article added that, "Although Russia is past its seasonal wheat-export peak, it had about 8 million tons left to ship between March and June, the United Nations estimated last week."

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