Wheat futures fall as Black Sea disruptions limit losses

Wheat futures on the Chicago Board of Trade (CBOT) declined during Tuesday's trading, with prices falling by as much as 2 cents per bushel, although continued disruptions to grain shipments through the Black Sea helped limit losses.

Weeks of attacks on shipping routes by Russia and Ukraine have reduced grain exports from the region, including shipments through Novorossiysk, Russia's main grain export port.

Jordan's state grain buyer purchased around 60,000 metric tons of wheat on Tuesday through an international tender that had sought to buy up to 120,000 tons, according to European traders.

In Germany, the German Farmers' Association (DBV) said on Tuesday that the country's 2026 winter wheat harvest, used for flour and bread production, is expected to fall 7% to 20.9 million metric tons.

The decline follows an unusually dry spring and a record heatwave in June that damaged crops.

Wheat futures

September Chicago soft red winter wheat futures were unchanged at $6.74¾ per bushel.

Meanwhile, September Kansas City hard red winter wheat futures rose 2.5 cents to $7.61¼ per bushel, while September Minneapolis spring wheat futures gained 4.5 cents to $6.79½ per bushel.