Wheat Hits Near 2-Month Low

2026-10-12 05:09 By Czyrill Jean Coloma 1 min. read

Wheat prices fell below $6.70 per bushel in mid-October, hitting its lowest level since August 18, as US President Donald Trump’s ceasefire announcement raised hopes for a Black Sea truce.

Trump said Russia and Ukraine had agreed to an immediate “energy ceasefire,” while Ukrainian President Volodymyr Zelenskyy said Kyiv supports the ceasefire but is “awaiting details.” Traders will look for confirmation from Moscow and Kyiv, as well as signs that the agreement could pave the way for a broader de-escalation.

Russia and Ukraine account for more than a quarter of global wheat exports, making the Black Sea a crucial artery for global supplies.

Meanwhile, Asian wheat millers are scaling back forward purchases as prices climb and Black Sea disruptions continue to constrain supplies from one of the world’s key exporting regions.

According to traders and processors, some millers in Southeast and South Asia are covering their needs only through December, or even closer to delivery.



News Stream
Wheat Hits Near 2-Month Low
Wheat prices fell below $6.70 per bushel in mid-October, hitting its lowest level since August 18, as US President Donald Trump’s ceasefire announcement raised hopes for a Black Sea truce. Trump said Russia and Ukraine had agreed to an immediate “energy ceasefire,” while Ukrainian President Volodymyr Zelenskyy said Kyiv supports the ceasefire but is “awaiting details.” Traders will look for confirmation from Moscow and Kyiv, as well as signs that the agreement could pave the way for a broader de-escalation. Russia and Ukraine account for more than a quarter of global wheat exports, making the Black Sea a crucial artery for global supplies. Meanwhile, Asian wheat millers are scaling back forward purchases as prices climb and Black Sea disruptions continue to constrain supplies from one of the world’s key exporting regions. According to traders and processors, some millers in Southeast and South Asia are covering their needs only through December, or even closer to delivery.
2026-10-12
Wheat Hits 6-week Low
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2026-10-09
Wheat Rises as Black Sea Supply Risks Mount
Wheat rose to around $6.9 per bushel in early October, extending its recovery from a more than one-month low reached on September 30, as renewed threats of an escalation in the Russia-Ukraine war fueled concerns over further disruptions to global grain supplies through the Black Sea. Over the weekend, the Russian government said its military would intensify strikes on Ukrainian infrastructure in a message distributed by the Defense Ministry, while President Volodymyr Zelenskyy said Ukrainian forces would continue targeting Russian energy facilities, particularly oil refineries. Wheat supplies from the Black Sea, one of the world’s key grain-trading corridors, have been severely constrained since July, with any further escalation threatening to disrupt shipments and complicate Turkey’s efforts to keep the vital trade route open.
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