Wheat prices rise again amid escalating tensions in the Black Sea
Wheat futures on the Chicago Board of Trade (CBOT) rose 1.5% on Friday, November 13, to $5.93 1/4 per bushel. The market recovered the previous session’s losses amid escalating tensions between Russia and Ukraine.
Prices were supported by renewed strikes by both sides after talks this week failed to produce an agreement to ease tensions in the Black Sea and ensure safe shipping. Market participants continue to factor in risks to Black Sea trade.
Meanwhile, South American wheat production forecasts moved in opposite directions. Brazil’s National Supply Company (Conab) lowered its 2026 crop estimate from 5.7 mln tons to 5.3 mln tons, while the Rosario Grain Exchange raised its forecast for Argentina’s wheat production from 23.8 mln tons to 24.3 mln tons.
Other grain and oilseed futures also posted gains. January soybean contracts rose 1% to $12.31 1/2 per bushel, while December corn futures gained 0.7% to $4.45 1/2 per bushel.
At the same time, U.S. wheat export sales fell 66% week over week to 182.8 thsd tons, the lowest weekly figure of the current marketing year. Corn export sales, by contrast, reached 3.48 mln tons, including 2.88 mln tons for the MY 2026/27.
Read also
Coming Up in UkrAgroConsult Reports: Key Market Signals
Malaysia’s palm oil production is set to decline in November, but high stock...
Quality of Ukrainian milling wheat returns to pre-war levels
High export duties on oilseeds in russia increase pressure on domestic prices
Ukraine and EU discuss expanding agricultural exports and supporting farmers
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon