Wheat rebounds on technical bids after touching a four-month trough
CBOT wheat climbed off a four-month low on technical buying as US export sales lagged and Brazil trimmed its crop estimate, per Reuters.
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what happened
Wheat futures on the Chicago Board of Trade ended higher on Friday, recovering from the lowest level since June 30 that the most-active contract had touched earlier in the session, according to Reuters. Traders said the move was largely technical, with no fresh drivers emerging from the latest round of Russia-Ukraine talks in Abu Dhabi. Those discussions produced no agreement to stop strikes on shipping lanes, a disruption that keeps grain flows from the Black Sea region under pressure.
Foreign demand for American wheat stayed weak. The USDA said net sales of 2026/27 US wheat for the week ended November 5 totaled 182,800 metric tons, below the 350,000 to 650,000 tons analysts polled by Reuters had expected. Separately, Brazil's Conab lowered its 2026 wheat crop forecast to 5.26 million tons from 5.73 million in October. The December soft red winter contract closed 9 cents higher at $5.93-1/4 a bushel and gained 0.3% for the week. Kansas City hard red winter and Minneapolis spring wheat also rose.
why it matters
For grain markets the signal is mostly technical for now. Weak export demand and unresolved shipping risk in the Black Sea keep prices sensitive to headlines, while the Brazilian cut adds a small supply-side factor.
tags
instruments
sources
- Technical buying lifts CBOT wheat from four-month low — Reuters, 13 November 2026 at 20:46 UTC
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