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CBOT wheat closed lower as traders positioned ahead of Russia-Ukraine talks. The S&P GSCI Agriculture Index was down 1.50% on the day.
Expectations of Black Sea de-escalation are pressuring wheat prices lower, which lowers feed grain input costs for buyers. The move is a routine price reaction to the same peace-talk news.
Not enough comparable past events yet for a historical read.
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.