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Futures for wheat contracts fall as traders take profits ahead of CBOT opening
Wheat futures are expected to open lower on the Chicago Board of Trade (CBOT) by between 5 and 8 cents per bushel when trading resumes at 4:30 p.m. Saudi Arabia time on Tuesday. Analysts attribute the decline to profit-taking during overnight sessions.

On Tuesday, the Kremlin said that additional diplomatic contacts took place regarding Turkey’s proposal to secure safe corridors for the transit of grains across the Black Sea. At the same time, Russia is working to find alternative routes for its grain exports.

Russia’s Arctic port of Murmansk plans to ship its first batch of grains coming from southern Russia as early as next month, using equipment typically used to load fertilizers. The move comes as the Black Sea route remains closed due to attacks with Ukrainian drones.
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