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Commodities

Wheat Futures Slide Amid Diplomatic Hopes, Skepticism

Guavy AI Editorial Team
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CBOT wheat futures fell on Thursday due to a lack of bullish news and continued hopes for a diplomatic solution to ease disruptions affecting Black Sea grain exports.

Traders pointed to an AFP report about a Turkish proposal sent to Russia and Ukraine for a truce on strikes against commercial shipping in the Black Sea as a reason for their cautious optimism.

The proposed truce, which has been met with skepticism due to Turkey's previous attempts at similar measures, raised hopes of military de-escalation in the region.

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