CBOT Wheat Futures Fall on Profit-Taking Ahead of Open

The Chicago Board of Trade (CBOT) is expected to open with wheat futures down by 5-8 cents per bushel on Tuesday, as analysts attribute the decline to profit-taking in overnight trading.

Russia's efforts to establish alternative routes for its grain exports continue, with the Kremlin announcing additional diplomatic contacts regarding Turkey's proposal for safe passage through the Black Sea.

Meanwhile, Russia's Arctic port of Murmansk plans to ship its first grain from southern Russia as early as next month, utilizing equipment normally reserved for fertilizer loading.

In Ukraine, 33 million metric tons of grain have been collected from 7 million hectares, representing 61% of the planted area, according to the country's agriculture ministry.