Wheat Slips as Traders Assess Ukraine-Russia Talks, Rates View
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Wheat futures fell in a broad slump in commodities as markets assessed Ukraine-Russia talks and traders awaited a Federal Reserve decision on U.S. interest rates this week.
Commodities including oil slid as Russian and Ukrainian negotiators are set to continue talks. Meanwhile, the Fed will likely raise rates for the first time since 2018, potentially strengthening the dollar and adding pressure to commodities. Chicago wheat rose as much as 3.8% earlier after Interfax initially reported Russia was considering a wider ban on exports. Interfax later specified the ban would only cover exports to the Eurasian customs union.