Wheat prices fall after four months of gains, corn prices also decline — FAO

Global grain prices declined in October 2026 following a period of increases. According to the Food and Agriculture Organization of the United Nations (FAO), the FAO Cereal Price Index averaged 116.8 points, down 5.5 points, or 4.5%, from September. Compared with October last year, the index fell by 13.1 points. The main factors behind the decline were weaker global demand, improved crop prospects and expectations of easing restrictions on grain exports from the Black Sea region.

Global wheat prices declined in October for the first time after four consecutive months of increases. The main reasons were weaker demand from importers and improved production forecasts, particularly in Argentina. Expectations of a possible easing of restrictions on export shipments from the Black Sea region added further downward pressure. However, logistics disruptions and difficulties in transporting grain continued to limit the decline in prices.

Global corn prices also fell after reaching their highest level in three years in September. Newly harvested corn from the United States began entering the market, increasing available supplies. Additional pressure on prices came from forecasts of substantial corn shipments from major South American exporters, along with renewed expectations of easing tensions in the Black Sea region.

Prices of other feed grains also declined. Global barley and sorghum quotations followed wheat and corn lower, reflecting the broader weakness in grain markets. Favorable barley crop prospects in Australia added further downward pressure, strengthening expectations of adequate supplies of the commodity on the international market.

Unlike other grains, global rice prices increased in October. The FAO All Rice Price Index rose by 1.6% compared with September. The main reason was harvest delays in several rice-exporting countries due to unfavorable weather conditions. Rising production and other costs added upward pressure on prices, restricting rice availability in the international market and supporting further price increases.

Tags: barley, rice, wheat, FAO, global market, sorghum