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Global wheat prices declined by approximately 1% after previously reaching their highest level since May 2024, due to weak US export demand and tensions in the Black Sea region between Russia and Ukraine. The US Department of Agriculture announced weekly export sales of only 235,000 tons, the lowest level in two months, putting additional pressure on the market. Wheat prices on the Chicago Board of Trade also fell to $6.695 per bushel, with corn and soybean prices declining by around 0.3% to 0.8%. The situation in the Black Sea remains the main driver of the market, as concerns grow over how the conflict may impact global shipping and exports.
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