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

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.