Wheat remained near $6 a bushel, close to its lowest level since early July, on expectations of easing Black Sea tensions despite limited progress in Russia-Ukraine peace talks. The first direct negotiations in months ended with an agreement on a prisoner exchange but no breakthrough on protecting maritime trade. Ukraine also claimed responsibility for a drone strike on Russia’s Baltic Sea port of Ust-Luga, an alternative export route for Russian shipments. Meanwhile, Algeria is believed to have purchased around 700,000 metric tons of wheat in an import tender, with part of the volume expected to come from Argentina, highlighting growing competition from Southern Hemisphere suppliers. Wheat has steadily declined from its 3-1/2-year high of $7.67 on August 28, as production is forecast to reach its second-highest level on record, supported by favourable harvest prospects in Australia and Argentina.