Commodities
Wheat Prices Surge Amid Black Sea Export Constraints
The wheat futures market has surged higher amid constrained exports out of the Black Sea. The price increase has provided a good selling and hedging opportunity for producers, who are advised to sell 30% of their 2026 production. This would put them at 60% sold in the cash market.
Wheat is trading at multi-year highs, with December SRW rising 12.5 cents to $7.60.75 and December HRW gaining 13.25 cents to $8.22. The bulls stepped in to buy the early dips in prices, indicating a strong market that still has legs to the upside.
Black Sea supply constraints continue to impact the marketplace, with USDA reporting weekly U.S. wheat export sales of 402,500 MT for 2026-27 during the week ended Aug. 20.