Wheat Eases from Over 2-Year High

2026-07-27 11:24 By Agna Gabriel 1 min. read

Wheat fell to around $6.50 per bushel, extending losses from the more than two-year high of $7.06 reached on July 22, following a sharp drop in crude oil prices after the United States and Iran paused strikes, raising hopes that diplomatic efforts could de-escalate tensions in the Middle East.

Despite the pullback, traders remained focused on risks to global wheat supplies as attacks by Russia and Ukraine in the Black Sea and Sea of Azov regions continued to disrupt grain infrastructure and threaten export flows.

Ukrainian authorities reported that air attacks caused casualties in Rostov-on-Don, a major Russian export hub near the Sea of Azov, and in Belgorod, highlighting ongoing tensions around key grain routes.

Meanwhile, Allseeds said it was halting operations in Ukraine's southern Odesa region.

However, discussions over mechanisms to maintain vessel movements through Ukraine's Black Sea ports have raised hopes that exports may avoid major disruptions.



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