Wheat Market Holds Below 3-1/2-Year High

2026-09-14 12:25 By Agna Gabriel 1 min. read

Wheat fluctuated around $7.30 per bushel, remaining below the 3-1/2-year high of $7.67 reached on August 28, as traders assessed developments in the Russia-Ukraine war and renewed diplomatic efforts to end the conflict.

Hopes for a negotiated settlement have weighed on prices, while the latest USDA supply and demand report pointed to slightly higher-than-expected global ending stocks, encouraging profit-taking among investors holding large long positions.

However, the USDA also lowered its 2026/27 export forecasts for Russia and Ukraine, cutting Russian shipments by 3 million metric tons to 43 million tons and Ukrainian exports by 1 million tons to 12.5 million tons.

Escalating attacks on shipping have added to supply concerns.

Russia’s seaborne grain exports fell 61.9% year-on-year to 2 million tons in August, while shipments through Azov and Black Sea ports dropped 73.1% to 1.3 million tons, highlighting growing disruption in the region.



News Stream
Wheat Market Holds Below 3-1/2-Year High
Wheat fluctuated around $7.30 per bushel, remaining below the 3-1/2-year high of $7.67 reached on August 28, as traders assessed developments in the Russia-Ukraine war and renewed diplomatic efforts to end the conflict. Hopes for a negotiated settlement have weighed on prices, while the latest USDA supply and demand report pointed to slightly higher-than-expected global ending stocks, encouraging profit-taking among investors holding large long positions. However, the USDA also lowered its 2026/27 export forecasts for Russia and Ukraine, cutting Russian shipments by 3 million metric tons to 43 million tons and Ukrainian exports by 1 million tons to 12.5 million tons. Escalating attacks on shipping have added to supply concerns. Russia’s seaborne grain exports fell 61.9% year-on-year to 2 million tons in August, while shipments through Azov and Black Sea ports dropped 73.1% to 1.3 million tons, highlighting growing disruption in the region.
2026-09-14
Wheat Falls to 2-Week Low
Wheat fell to $7.10 a bushel, their lowest level in two weeks, as traders weighed diplomatic efforts to end Russia’s war in Ukraine against continued disruption to Black Sea exports. Profit-taking following a strong rally also contributed to the decline. Prices had reached $7.70 on August 28, marking a three-and-a-half-year high, before easing. Ukraine struck targets at the Russian port of Novorossiysk, including a naval base and an oil-loading terminal, renewing concerns over disruptions to Black Sea trade. President Volodymyr Zelenskiy said the attack targeted several facilities, while traders cited unconfirmed reports that grain infrastructure may also have been damaged. However, attention shifted back to diplomacy after the Kremlin said it hoped US-mediated talks would resume soon and identified Abu Dhabi as its preferred venue for negotiations. The prospect of renewed talks helped ease some of the market’s supply concerns.
2026-09-09
Wheat Futures Rise as US Peace Efforts Falter
Wheat futures rose above $7.30 per bushel, rebounding from losses on September 4, as Washington’s renewed push to end the Russia-Ukraine war failed to deliver a meaningful breakthrough toward restoring Ukrainian and Russian grain exports. Over the weekend, US representatives met with Russian President Vladimir Putin in Moscow and Ukrainian President Volodymyr Zelenskyy in Kyiv. Putin reportedly ordered a three-day pause in Russian attacks on Kyiv to coincide with the US delegation’s visit to Ukraine, but stressed that the two sides had not agreed to a broader ceasefire. President Putin is reportedly determined to bring the entire Donetsk region under Russian control within six months, while Ukraine resumed strikes on Russian oil refineries on Monday. The intensifying conflict has disrupted grain trade, as attacks on Black Sea terminals and export infrastructure hamper agricultural exports.
2026-09-08