Wheat Futures Decline as Black Sea Disruptions Limit Losses

Wheat futures on the Chicago Board of Trade declined by up to 2 cents per bushel on Tuesday, but disruptions in Black Sea grain shipments limited losses. Weeks of attacks on shipping routes by Russia and Ukraine have curtailed exports from the region, including at Novorossiysk, Russia's primary grain export terminal.

Jordan purchased approximately 60,000 metric tons of wheat through an international tender that sought up to 120,000 tons, according to European traders. The country's state grain buyer made this purchase despite ongoing disruptions in the Black Sea region.

The German farming association DBV reported on Tuesday that Germany's 2026 winter wheat harvest is projected to fall 7% to 20.9 million tons due to an unusually dry spring and record heatwave in June that damaged crops. CBOT September soft red winter wheat traded flat at $6.74-3/4 per bushel, while Kansas City September hard red winter wheat rose 2-1/2 cents to $7.61-1/4 per bushel.