Wheat falls as profit-taking offsets Black Sea war concerns

Wheat prices went down on Wednesday after recently rising a lot.

Some traders sold wheat to collect profits.

Prices had risen because fighting between Russia and Ukraine could disrupt grain shipments from the Black Sea.

Ukraine said it attacked parts of the Russian port of Novorossiysk.

Some traders heard, but could not confirm, that grain facilities were damaged.

Russia said it hoped talks supported by the United States would start again soon.

This made traders think the war might have less effect on trade.

Corn and soybean prices also slipped while traders waited for new crop estimates.

Soybeans received some support from Chinese purchases and higher oil prices.