Wheat stock quotes started the year with a decline, but prices remain stable in Ukraine

In the first week of 2026, wheat quotes fell by 0.5-2% under the pressure of low demand and good harvests in Argentina and Australia. The weather in the main exporting countries (with precipitation and without severe frosts) remains quite favorable for winter crops, so there is no speculation on the weather yet. Larger wheat sowing areas in India and precipitation allow us to hope for a high harvest, which will be harvested in the spring.

During the week, March wheat futures fell:

• by 0.5% to $187.6/t – for SRW wheat in Chicago,
• by 1.1% to $191.6/t – for HRW wheat in Kansas City,
• by 2% to $208.4/t – for HRS wheat in Minneapolis,
• by 0.9% to €189/t or $221/t on the Euronext exchange in Paris.

Christmas and New Year celebrations in Ukraine and ongoing Russian attacks on port infrastructure in the Odessa region have sharply reduced wheat supply from sellers, which is supporting high prices at ports. At the same time, processors are reducing prices due to reduced demand for flour on the domestic market.

During the week, export purchase prices for wheat in Ukraine remained at the level of $208-214/t or 10,000-10,200 UAH/t for food wheat (213-214 $/t last year) and $204-205/t or 9,700-9,900 UAH/t for feed wheat (206-208 $/t last year) with delivery to Black Sea ports, but the sharp increase in the dollar exchange rate on the interbank market over the past two days will lead to an increase in hryvnia prices.

On January 6, the Ministry of Industry and Trade of Jordan held a tender for the purchase of 120,000 tons of milling wheat of any origin, at which it purchased 60,000 tons of wheat from Buildcom for delivery in the first half of April at a price of $260/ton C&F Aqaba.

It should be noted that the bid prices at the tender were almost at the same level (CHS offered wheat at $261.95/t, Cargill at $262.95/t, Cofco at $263/t, Ameropa at $264.48/t), which indicates increased competition in the second half of the season.

Tags: prices, wheat