Wheat Sells Off Friday Under Uncertainty Leaving…

Wheat sells off Friday under uncertainty leaving traders no option but to take some money off the table.

CBOT wheat futures lost nearly -30c on Friday night as market participants had to digest several headlines over the grain deal of which Russia said there were no new/alternative talks on while also saying they want the option to inspect any ships heading to Ukrainian ports.  Shipping data has shown forward traffic in the Black Sea has dropped by 35% so far following warnings from both Russia and Ukraine that any vessels calling ‘enemy’ ports would be treated as hostile.

Ukraine continues to export over land and through the Danube river ports as new crop deliveries ramp up.

Yields are currently running at 4.12t/ha which was well above the 3.15t/ha this time last year.

Zelensky on Friday told Ukraine’s top general to prepare a set of actions to continue the grain corridor and on Saturday spoke to NATO’s secretary general about continuing the corridor.

Russian 12.5 FOB levels remain around $240/mt ex Novo. End of the week there were new vessel fixtures from both Kavkaz


Wheat and corn prices exploded overnight in both Europe and the U.S., including Dec CBOT corn hitting its highest level in almost a month

Russian attacks expanded to the Danube River this morning, the key point in Ukraine’s campaign to replace the majority of its Black Sea exports via river and overland routes.

Strikes continued on the sea port of Odesa as well, but drone attacks on Danube grain terminals were a new and very specific target near the Romanian border, very clearly targeting Ukraine’s ability to export grains following the collapse of the Black Sea export agreement.


Mpls wheat +35

KC wheat +35

Chic wheat +40

Matif wheat +12

Canola +5

Rapeseed +17

Soybeans +20

Soybean oil +190

Crude +75

Corn +20

CAD +6