Wheat Futures Fall on Profit-Taking Amid Black Sea Tensions

Wheat futures on the Chicago Board of Trade (CBOT) declined on Monday as traders took profits following gains from the previous week's disruptions to Russian and Ukrainian exports through the Black Sea.

The CBOT September soft red winter wheat fell 5 cents to $6.69-3/4 per bushel, while Kansas City September dropped 5-3/4 cents to $7.48-1/2 per bushel, and Minneapolis September spring wheat decreased 1-1/4 cents to $6.77 per bushel.

The previous week's gains were fueled by weeks of attacks by Russia and Ukraine on ports, including at Russia's main grain export hub of Novorossiysk, reducing shipments.