Wheat, Corn, Soybean Prices Tumble on Ongoing Conflict Fears

Chicago wheat prices have declined due to selling pressure following recent highs. The market has been affected by fears that ongoing conflict between Russia and Ukraine will disrupt grain exports for an extended period.

Corn and soybeans also fell, partly supported by higher crude oil prices. However, the price drops were limited as these commodities remain well-supported in the market.

Matt Ammermann, commodity risk manager at StoneX, noted that wheat, corn, and soybeans have seen selling pressure after recent highs due to a lack of new bullish news over the weekend.