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Crops Slip to End Volatile Week as Supply Outlook Remains Opaque

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Wheat and corn slid in Chicago, closing out a back-and-forth week for prices as the war in Ukraine leaves traders parsing an increasingly unclear supply outlook.

Futures have flipped from gains to losses for six straight sessions. Officials in Russia are giving little indication that its invasion of Ukraine will end imminently. Although some grain cargoes are still flowing from the Black Sea, the pace that will be maintained going forward is unclear. Chinese leader Xi Jinping assured U.S. President Joe Biden during a highly anticipated videoconference Friday that his country didn’t want war in Ukraine, according a report from state-run Xinhua.