CBOT wheat rose 0.2% to $5.89 a bushel after falling to $5.85 on Friday, the lowest since June 30. Prices are down about 25% from early-September highs, and traders are watching Russia, Ukraine and US talks in Abu Dhabi.
Peace-talk headlines are prompting fund selling and pushing wheat lower, though Black Sea export restrictions have not tightened supply as much as expected. Buyers should note the risk of a sharp short-covering rally.
After 82 past bearish geopolitics events, Wheat (SRW) moved a median -0.4% over 5 sessions (45% higher; middle half -1.4% to +1.9%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.