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Turkey's Black Sea Plan Slams CBOT Wheat Futures

Guavy AI Editorial Team Published September 1, 2026

Instruments

Wheat

Chicago Board of Trade (CBOT) wheat futures took a hit on Monday after Turkey announced plans to enable safe grain passage through the Black Sea.

The proposal, which involves discussions with Russia and Ukraine, was made by Turkish Foreign Minister Hakan Fidan at a press conference in Istanbul.

As a result of this news, CBOT wheat futures declined by 10 cents to settle at $7.74 per bushel.

This comes after prices reached three-year highs the previous session due to concerns over reduced grain shipments from Russia and Ukraine.

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