At the end of last week only amid vague rumors of growing tensions between the US and Iran (despite seemingly successful interstate talks), US wheat futures in the US renewed multi-month highs. Thus, according to Bloomberg,
soft red winter wheat futures in Chicago reached a one-year high and closed at 591.25 cents/bushel, while the hard red winter wheat contract rose to 572.75 cents/bushel, reaching the highest level since June 2025. The actual reason for this development became clear on Saturday.
On Monday, exchange quotations on the global grain market have already increased by 2-4%. In particular, on the European exchange Euronext futures for soft wheat exceeded 197 euros / t (more than $233 / t).
In Ukraine, in the middle of last week, the price of food wheat in the ports of Odessa stabilized in the range of $213-219/t due to problematic (as a result of Russian attacks) logistics, stagnant supply and reluctance of large traders to raise purchase prices in the context of high risks and uncertainty, APK-Inform reported.
At the beginning of this week, Ukrainian grain market operators reported that wheat prices and freight rates have not changed yet.
