Oct 30, 2026 · 5 min · 5 segments
A rebound in Chicago wheat, stronger U.S. export sales, renewed Chinese interest, Russia’s rebuilding export flows, Argentina’s advancing wheat harvest, and U.S. pressure on Lithuania over Belarusian…
Mark MillerupHost
The wheat move is encouraging, but it remains to be seen whether one strong sales week and a Chinese inquiry are enough to call a bottom.
Russian export flows are rebuilding through alternative routes, while Argentine new crop wheat is becoming cheaper.
a marketing year high and well above the trade range of 200,000 to 500,000 tons.
Bloomberg also reported that Covcoco had asked for USSRW wheat offers, its first inquiry since the Trump-Xi summit.
No Chinese purchase has been confirmed, but after nine weeks of falling prices, demand is finally reacting.
Rusa Grotrans expects Russian wheat exports to exceed 3 million metric tons in November, following a projected 3 million tons in October, which would make it the strongest month so far this season.
Around 2.5 million tons had shipped by October 27th, as exporters increasingly use Baltic and other alternative routes.
Black Sea execution risk remains high, however, with another commercial vessel sinking this week following a drone attack.
BAGE reported northern yields well above recent averages and generally adequate to optimal moisture for the remaining crop.
New crop offers are weakening quickly, with 11.5% wheat offered near $233 per ton FOB December, down from $240 a day earlier and $248 a week ago.
The wheat move is encouraging, but it remains to be seen whether one strong sales week and a Chinese inquiry are enough to call a bottom.
Russian export flows are rebuilding through alternative routes, while Argentine new crop wheat is becoming cheaper.
a marketing year high and well above the trade range of 200,000 to 500,000 tons.
Bloomberg also reported that Covcoco had asked for USSRW wheat offers, its first inquiry since the Trump-Xi summit.
No Chinese purchase has been confirmed, but after nine weeks of falling prices, demand is finally reacting.
Rusa Grotrans expects Russian wheat exports to exceed 3 million metric tons in November, following a projected 3 million tons in October, which would make it the strongest month so far this season.
Around 2.5 million tons had shipped by October 27th, as exporters increasingly use Baltic and other alternative routes.
Black Sea execution risk remains high, however, with another commercial vessel sinking this week following a drone attack.
BAGE reported northern yields well above recent averages and generally adequate to optimal moisture for the remaining crop.
New crop offers are weakening quickly, with 11.5% wheat offered near $233 per ton FOB December, down from $240 a day earlier and $248 a week ago.
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