Wheat extended a decline as traders took profits, pressing prices lower after a recent rally. The move reflected profit‑taking activity amid uncertainty about future supply chains.

Market participants cited Black Sea supply risks as a key factor, noting that geopolitical tensions and weather disruptions could limit grain shipments from the region. Concerns over port closures and logistics bottlenecks kept traders cautious.

At the same time, weak US export demand added pressure on the commodity. Recent data showed slower purchases from traditional importers, leading to a softer outlook for American wheat sales abroad.

Analysts warned that unless Black Sea export flows improve or US demand rebounds, further downside could persist. They also highlighted that any shift in global Wheat inventories would quickly influence price direction.

On the Chicago Board of Trade, Wheat futures slipped approximately 1.2% to settle near $6.50 per bushel, marking the lowest level in three weeks. Volume remained moderate as market participants awaited further developments.