Lates News

Wheat futures are experiencing their longest weekly losing streak in nearly three decades. Wheat, which led the agricultural commodities market higher earlier this year, has now seen a sharp reversal. In September, wheat prices surged to their highest levels since 2023 after attacks on ships and infrastructure in the Black Sea region escalated, disrupting exports from Ukraine and Russia. Although Black Sea disruptions persist, the risk premium in the market has begun to fade as the Trump administration seeks to push for peace negotiations between Moscow and Kyiv. In addition, Russian wheat exports have increased, including shipments through Baltic ports. Meanwhile, demand for wheat from some major exporting countries has been lackluster. USDA data showed that U.S. export sales of soybeans, corn and wheat all declined in the week ended Oct. 15. "Global importers may be choosing to wait and see whether a peace deal can be reached in the Black Sea region," said Naomi Blohm, an analyst at Total Farm Marketing.