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Wheat futures plunge after Russia resumes participation in Ukraine export deal; corn, soybeans also down.

Wheat futures led a sharp drop in prices early this morning as news of Russia resuming its participation in the Black Sea grain export initiative hit markets.

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Ahead of the Open | November 1, 2022 Wheat futures mostly lower as Ukraine shipments continue; soybeans rise to five-week high, corn weaker.

Soybeans built on Monday’s gains during overnight trade, while the corn and wheat markets pulled back amid corrective selling.