Wheat falls 1.3 percent, corn down as Black Sea grain export deal extended

SINGAPORE: Chicago wheat and corn futures slid on Monday, with prices under pressure after a deal to export grains from war-torn Ukraine was extended over the weekend, easing some of the concerns over global supply, according to Reuters

Soybeans ticked lower on ample supplies from newly harvested record crop in Brazil.

“There wasn’t huge amount of doubt about the Black Sea deal but as far as today’s market action goes, I think the extension of the deal is putting pressure on prices,” said Phin Ziebell, an agribusiness economist at National Australia Bank.