Wheat Prices Soar Amid Ongoing Tensions in Ukraine and Russia

U.S. wheat prices continue to rise due to ongoing tensions in Ukraine and Russia. The Agriculture and Agri-Food Canada increased its forecast for all-wheat production for 2026-27 to 36.27 million tonnes in its August supply and demand report.

A shortage of pilots and priority given to other cargoes is causing lengthy delays at Ukrainian ports, with up to 70 vessels waiting on the Sulina Canal near the Danube River to unload grain.

The U.S. Department of Agriculture reported new crop wheat exports for the week ended Aug. 20 at 402,500 tonnes, meeting trade expectations.