Wheat Eases From 3-Year Peak

2026-09-03 11:04 By Larissa Caser 1 min. read

Wheat fell below $7.30 per bushel, easing from over a three-year high, amid expectations of a peace agreement between Russia and Ukraine.

President Putin stated there was a chance of a peace agreement to end the war with Ukraine, which triggered profit taking by traders.

The EU also stated it was looking into "all possible lanes" to support grain exports from Ukraine, citing concerns over food security.

As Ukraine and Russia account for more than a quarter of global exports, nearly two months of persistent attacks on commercial vessels in the Black and Azov seas raised concerns over further grain supply disruptions.

The conflict resulted in a decline in wheat exports from Russia by more than 50%, which suspended its floating export duty on wheat through the end of 2026, and from Ukraine by 34% in 2026 so far.

The disruption adds to the pressures building within global food commodities amid adverse weather and higher fertilizer and fuel prices due to the conflict in the Middle East.



News Stream
Wheat Eases From 3-Year Peak
Wheat fell below $7.30 per bushel, easing from over a three-year high, amid expectations of a peace agreement between Russia and Ukraine. President Putin stated there was a chance of a peace agreement to end the war with Ukraine, which triggered profit taking by traders. The EU also stated it was looking into "all possible lanes" to support grain exports from Ukraine, citing concerns over food security. As Ukraine and Russia account for more than a quarter of global exports, nearly two months of persistent attacks on commercial vessels in the Black and Azov seas raised concerns over further grain supply disruptions. The conflict resulted in a decline in wheat exports from Russia by more than 50%, which suspended its floating export duty on wheat through the end of 2026, and from Ukraine by 34% in 2026 so far. The disruption adds to the pressures building within global food commodities amid adverse weather and higher fertilizer and fuel prices due to the conflict in the Middle East.
2026-09-03
Wheat Holds Near 3-Year Peak
Wheat traded near $7.65 per bushel, holding near the highest level since early February 2023 as Russia-Ukraine tensions continue to escalate. The market remains affected by growing sensitivity to war-risk premiums and speculative positionings following soaring prices due to persistent attacks from Ukraine and Russia, who account for more than a quarter of global exports, on commercial vessels that continue to threaten global supplies. Additionally, Russia has suspended the floating export duty on wheat through the end of 2026, as its wheat exports fell more than 50% in August compared to last year, and while able to use its Baltic port, limited capacity remains a long-term issue. Ukraine's wheat exports also fell substantially, by 34% year-to-date, while the UAC expects further disruptions on its ports. Turkey's president stated a mechanism was needed to permanently ensure the safety of maritime transit, while Russia's foreign minister stated he was no grounds for such a deal.
2026-09-02
Wheat Rises Toward 3-1/2-Year High
Wheat rose to around $7.65 per bushel, close to its highest level since February 2023, as renewed attacks in the Black Sea region heightened concerns over grain supplies. Turkey said it had prepared a plan to facilitate the safe movement of grain through the Black Sea and was in contact with both Russia and Ukraine. However, Moscow rejected a proposed moratorium on attacks in the area, arguing that it would not contribute to a peaceful resolution. Ukrainian officials said Russian strikes overnight damaged port facilities and a border crossing with Romania in the Odesa region, while further attacks were reported near Russia’s Baltic port of Ust-Luga. The renewed hostilities have increased uncertainty around exports from both countries, with previous attacks severely disrupting shipments through Black Sea and Sea of Azov ports. Both countries are major exporters, together accounting for more than a quarter of global wheat shipments.
2026-09-01