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CBOT wheat fell to its lowest price since February ahead of planned Russia-Ukraine talks. The report attributed the decline to traders positioning before the talks.
Hopes that talks could reduce Black Sea supply disruptions may lower the geopolitical risk premium in wheat and pressure prices.
After 80 past bearish geopolitics events, Wheat (SRW) moved a median -0.4% over 5 sessions (44% 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.