Wheat Prices Plummet Amid Hopes of Russian-Ukrainian Peace Deal
Global wheat prices took a hit last week as speculation about a potential peace deal between Russia and Ukraine weighed on markets. According to the Agricultural and Horticultural Development Board (AHDB), UK November 2026 future prices dropped by £3.25 per tonne, from £219.25/t on September 5 to £212.50/t at the end of the week.
The same period saw December 2026 Paris wheat futures fall by 1.9%, while December 2026 Chicago wheat futures plummeted by 6.4%. The decline in prices was attributed, in part, to speculative traders selling their positions in Chicago futures markets.
Markets will be closely monitoring the situation over the coming weeks, with a potential increase in export levels through the Black Sea if negotiations between Russia and Ukraine come to fruition. However, any restriction or ban on Russian exports from the ports of Latvia and Lithuania could also impact global wheat prices.