CBOT Wheat Falls as Traders Monitor Russia-Ukraine Peace Talks
Chicago Board of Trade wheat futures declined on Friday as traders monitored diplomatic efforts to end Russia's war with Ukraine, which could reduce disruptions to Black Sea grain shipments.
The benchmark wheat contract fell after Russian President Vladimir Putin stated that a peace agreement remained possible.
Russian state news agency TASS and U.S. news outlet Axios reported separately that U.S. envoys Steve Witkoff and Jared Kushner would visit Moscow and Kyiv over the weekend for peace negotiations.
However, plans for the U.S. envoys to visit Russia and Ukraine have yet to be finalized due to U.S. security concerns.
The Kremlin said that the possibility of a Ukraine peace settlement remained.
Disruptions to Black Sea exports have led Asian wheat importers to buy at least half a million metric tons of Australian and Argentine wheat in recent deals.