Julie Ingwersen

U.S. wheat futures jumped 6%, hitting a two-week high, and corn rose 1.6% on Monday as Russia’s withdrawal from a Black Sea export agreement raised concerns over global supplies.

U.S. farmers expanded plantings of winter wheat by 11% from a year ago to an eight-year peak, encouraged by high prices tied to concerns over food supplies following Russia’s invasion of major wheat producer Ukraine, as well as relatively low input costs and expanded crop insurance programs.

Nearly all corn and soybean acres in the world’s largest exporting countries are seeded with genetically modified varieties, but that is not the case for wheat, a crop grown primarily for human food.

U.S. farmers are about halfway done planting winter wheat for harvest in 2024, but acreage is expected to remain stable or decrease from last year because of lower prices and farmers’ disenchantment with the crop after three years of drought.

A Biden administration drive to increase U.S. wheat plantings after the Ukraine war is faltering as wheat prices hover around four-year lows and exportable supplies continue to flow from the Black Sea region, curbing demand for American grain.

A type of genetically modified wheat developed by Argentina's Bioceres Crop Solutions may be safely grown in the United States, the U.S. Department of Agriculture said on Tuesday.

U.S. farmers are harvesting two of the largest corn and soybean crops in history at the fastest pace in years, straining their physical capabilities and their grain storage capacity.

The return of drought in U.S. cattle-producing areas is delaying ranchers' plans to expand production after the nation's herd shrank to its smallest level in seven decades, farmers and analysts said.

CME Group said on Wednesday it plans to launch spring wheat futures and options in the coming months that will compete directly with a historic Minneapolis market now owned by Miami International Holdings.

Farmers in the U.S. plan to plant more corn and fewer soybeans this spring than they did last year, hoping to eke out a profit and shield themselves from U.S. President Donald Trump’s threatened tariffs, growers and analysts said.