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Wheat falls for fourth session amid Russia-Ukraine ceasefire prospects
Wheat futures prices in Chicago have fallen for the fourth consecutive time following the announcement by Turkey, Ukraine, and Russia of an understanding on a "energy truce," which boosts hopes of easing shipping disruptions in the Black Sea. The futures price declined by as much as 1.3%. Experts say that the market is reacting generally to reduced escalation, while traders are monitoring Moscow’s assurances regarding the protection of grain infrastructure. Despite this, limited supplies due to export restrictions on wheat from the region, especially from Russia and Ukraine, keep tension high in the global market. However, these gains may pause as the harvest season begins and with expectations of increased maize production.
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