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Market Impact: 0.25
Wheat Extending Correction on Tuesday as the Market Eyes the Black Sea
Source: Nasdaq
Commodities & Raw MaterialsCommodity FuturesGeopolitics & War
Wheat futures were under pressure Tuesday morning as easing Black Sea conditions reduced geopolitical risk premiums. Monday's wheat trade was mixed: Chicago SRW contracts ranged from down 3.25 cents to up 4.25 cents, while Kansas City HRW contracts included losses of up to 6 cents. The developing Black Sea backdrop is a near-term bearish factor for wheat prices.
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