Skip to content

Wheat Prices Plunge in Chicago With Global Stockpiles Rising

  • U.S. futures fall by exchange limit amid wartime volatility
  • Report cuts Russian, Ukrainian wheat exports for 2021-22
Updated on

Wheat markets remained locked limit down after a key U.S. report forecast bigger ending stockpiles even as the Ukraine war disrupts supplies out of the key Black Sea region.

Overall impacts from the war on global grain supplies were relatively minimal in the U.S. Department of Agriculture report. World wheat ending stocks were raised slightly, thanks to a bigger Australian crop. This may speak to relatively muted market reaction, with wheat unmoved and corn back within its pre-report trading range.