Wheat heads for fourth straight weekly loss on Black Sea export hopes
DBA•Chicago wheat futures fell 2.1% to $6.92½ a bushel and were down 3.1% for the week, heading for a fourth straight weekly decline as traders hoped Black Sea exports would revive. Corn and soybean futures also fell on Friday.
1. Wheat prices fall
The most-traded Chicago wheat contract fell to $6.92½ a bushel, its lowest level in a month, and was down 3.1% so far this week. Prices have fallen from a 3½-year high of $7.95 at the start of September. The contract also dropped below its 50-day moving average for the first time since July.
2. Black Sea export hopes
Traders focused on diplomatic efforts to end the Ukraine war and restore the Black Sea grain export corridor. Russian and Ukrainian attacks on grain shipments have hampered exports and lifted global prices. Russia is estimated to export 1 million metric tons of wheat in September, compared with 5.7 million tons in September 2025.
3. Other crops decline
Corn futures fell 1.4% to $5.20 a bushel, their lowest in a month, and were down 1.4% for the week. Soybeans slipped 0.9% to $13.05½ a bushel but remained up 0.2% from the prior week's close. Traders were watching for possible Chinese commitments to buy U.S. agricultural goods at a U.S.-China summit.
