Wheat rebounds from 4.5-month low as Black Sea supply concerns mount
According to Reuters, Chicago wheat rose on Friday after dipping to a four-and-a-half-month low amid disrupted Black Sea grain exports.
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what happened
According to Reuters, Chicago wheat futures climbed on Friday after touching a four-and-a-half-month low in early trade. Traders say disruption to Black Sea exports still outweighs pressure from a strong dollar and expectations of large harvests in Australia and Argentina.
Corn and soybeans also gained. The US Department of Agriculture on Tuesday tightened its US supply outlook for both crops, lifting prices off multi-month lows. Wheat was still on track for a weekly decline.
why it matters
Grain supply from Russia and Ukraine remains restricted by attacks on Black Sea shipping, and peace talks this week failed to resolve the problem. Analysts warn that a prolonged closure of Black Sea grain exports would cause supply shortages. Meanwhile, a stronger dollar makes American grain costlier for overseas buyers.
market impact
Grains: Black Sea disruption supports wheat, while big Australian and Argentine harvests weigh on prices
- Wheat mixed — Black Sea export disruption supports prices, while large Australian and Argentine harvests push them lower
- Corn pressure up — the USDA's tighter US supply outlook reduces American availability
- Soybeans pressure up — the USDA's tighter US supply outlook reduces American availability
tags
instruments
sources
- Wheat rebounds from 4-1/2-month low on Black Sea supply concerns — Reuters, 13 November 2026 at 02:08 UTC
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