Wheat Prices Fall as Ukraine War Negotiations Continue

The wheat market continued its decline on Friday, settling at $7.34 per bushel after a high of $7.95 earlier in the week. The Chicago Board of Trade's most active contract fell by 20-1/4 cents as traders watched for any signs that diplomatic efforts to end Russia's conflict with Ukraine might ease disruptions to grain shipments.

Ed Duggan, a broker at Top Third Ag Marketing, said that talk of peace negotiations would put pressure on the market. 'Wheat in the Black Sea area is there, but it can't get out, that's a problem,' he stated.

The U.S. Department of Agriculture will release its weekly report next week, which may show changes in the position of corn and soybeans.