Commodities
Wheat Futures Fall Amid Ukraine Diplomacy Efforts
Chicago wheat futures declined on Wednesday due to diplomatic efforts to end Russia's war with Ukraine.
The most-traded wheat contract on the Chicago Board of Trade fell 7-1/2 cents to $7.39-1/4 per bushel, remaining below a 3-1/2-year high of $7.95 reached last week.
Profit-taking after a steady price increase also pressured the market, analysts said.
The Kremlin stated that Russia hopes U.S.-mediated talks will resume soon and sees Abu Dhabi as a preferred venue for such talks, shifting focus back to diplomatic efforts.