Corn, wheat ease after gains driven by Black Sea jitters

Corn and wheat prices fell as Black Sea tensions eased, reversing previous gains. Ample global wheat supplies added bearish sentiment. Soybeans declined due to uncertainty over Chinese demand. U.S. corn futures dropped over 1%, wheat futures dipped, and soybean futures fell. Fears of military escalation in the Black Sea region receded after a Kremlin meeting. Algeria bought milling wheat, possibly from the Black Sea or Argentina. U.S. soy sales to China are monitored, with commitments expected by February 2026.