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Wheat Prices Tumble as Traders Take Profits Amid Ongoing Shipping Disruptions

Guavy AI Editorial Team
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Chicago Board of Trade wheat futures declined on Monday as traders took profits following last week's gains.

The December soft red winter wheat futures fell 1/4 cent to $6.89-1/4 per bushel.

The market continues to face disruption from attacks on Black Sea shipping routes by Russia and Ukraine, with weeks of attacks reducing shipments at Russia's main grain export hub of Novorossiysk.

Loading at Russia's Black Sea ports remained reduced, while Ukraine has shifted to shipping grain through western neighbors such as Romania, according to traders.

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