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Wheat Falls to Lowest Since June Ahead of Black Sea Peace Talks

AI Market Summary
Wheat futures slid as much as 2.4% to the lowest intraday level since June 30 as traders position for US-brokered Russia-Ukraine talks, which could ease Black Sea supply risk and soften the war premium embedded in grain prices. Concurrent large Chinese soybean purchases underscore steady demand but do little to offset bearish wheat momentum; near-term pressure on agricultural commodities likely persists pending concrete ceasefire progress.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-0.25%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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The United States plans to hold talks with Russia and Ukraine. Wheat futures fell as much as 2.4% in intraday trading to their lowest level since June 30.
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