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Wheat Pulls Back as Profit-Taking Meets Black Sea Supply Risks

Wheat Pulls Back as Profit-Taking Meets Black Sea Supply Risks

CBOT wheat eased after last week’s rally as traders locked in profits, but attacks on Black Sea shipping continue to disrupt Russian and Ukrainian grain exports. Reduced loading at key ports has shifted attention from ample global supplies toward export availability. For traders, sustained attacks could reinforce wheat’s risk premium, while improved Black Sea flows would favor a deeper correction.