CBOT wheat lower as war-fueled rally peters out

• CBOT December soft red winter wheat WZ26 futures settled 8 cents lower at $6.81-1/4 per bushel.
• K.C. September hard red winter wheat KWZ26 ended 15 cents lower at $7.43-3/4 per bushel.
• September spring wheat MWEU26 settled 1-1/4 cents higher at $6.76-1/4 per bushel.

Jordan's state grain buyer purchased about 60,000 metric tons of wheat on Tuesday in an international tender seeking up to 120,000 tons, European traders said.

Germany's 2026 winter wheat crop, used for making flour and bread, is expected to decrease by 7% to 20.9 million tons after an unusually dry spring and a record-breaking heatwave in June that damaged crops, farming association DBV said on Tuesday.

Chicago Board of Trade wheat futures ticked lower on Tuesday as market players moved on from war disruptions to Black Sea supplies, analysts said.

• Weeks of attacks on shipping by Russia and Ukraine have curtailed shipments, including at Russia's main grain export hub of Novorossiysk.
• Traders said loadings at Russia's Black Sea ports remained reduced while Ukraine was relying on shipments via western neighbors such as Romania.
• Analysts said they are confident that wheat currently in the Black Sea region will be exported after tensions ease, indicating that the overall world supply picture for wheat has not changed.