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Russian and Ukrainian delegations held their first talks in over eight months in Abu Dhabi on Tuesday and Wednesday, under US mediation, raising hopes for a resumption of Black Sea shipping. Chicago wheat trades below 6 dollars a bushel and Euronext wheat at 234.50 EUR per tonne after falling to 223 EUR, its lowest since July, while US corn is near 4.47 dollars a bushel.
Hopes of restored Black Sea port traffic are pressuring wheat and corn prices, but traders say the optimism may be premature without concrete outcomes. A genuine reopening of Ukrainian ports would ease export constraints, while a failure would likely revive the price rally.
agri-mutuel.comNov 11, 2026After 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.
After 87 past bearish geopolitics events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +2.1%), and +0.3% 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.
