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Wheat prices fell for the fourth consecutive day, as Donald Trump's remarks fueled hopes for a Black Sea ceasefire.
U.S. President Donald Trump stated that Russia and Ukraine have agreed to an immediate "energy ceasefire," sparking hopes that a de-escalation of the conflict could reduce supply disruptions in the Black Sea region. As a result, wheat futures prices fell for the fourth consecutive day, dropping as much as 1.3% during intraday trading. Additionally, the U.S. Department of Agriculture's unexpected upward revision of its corn production forecast also put pressure on grain prices.
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