Wheat Prices Stabilize Amid Black Sea Disruptions

Wheat futures on the Chicago Board of Trade (CBOT) declined by up to 2 cents per bushel on Tuesday, despite disruptions in Black Sea grain shipments limiting price drops.

The ongoing attacks by Russia and Ukraine on shipping routes have reduced exports from the region, including at Novorossiysk, Russia's primary grain export terminal.

However, a Jordanian state buyer purchased approximately 60,000 metric tons of wheat through an international tender that sought up to 120,000 tons, according to European traders.

Germany's farming association DBV reported on Tuesday that the country's 2026 winter wheat harvest is projected to fall by 7% to 20.9 million tons due to an unusually dry spring and a record heatwave in June that damaged crops.