Grain deal still far off, but wheat price is already falling

The wheat market took a big step back yesterday due to reports about talks on grain exports via the Black Sea. A new grain deal is still far off, however. Soy also came under pressure, partly due to a weaker Brazilian real. Meanwhile, the start of the winter grain season in Europe is not going smoothly. Drought is hampering emergence, while growers in the north are dealing with overly wet conditions.