Exchange quotations for wheat expect a sharp improvement in the global balance, and prices in Ukraine have already started to decline.

The speculative rise in wheat prices, caused by attacks on civilian ships in the Black Sea, has stopped. The market is expecting today's "bearish" USDA report, which may include sharply increased forecasts for wheat production in Argentina, Australia, and Canada (according to official estimates) and global wheat reserves. Statistics Canada (StatCan) has raised its estimate of wheat production in the country to a record 40 million tons, although the USDA estimated it at 37 million tons in November. Soft wheat quotations in Chicago have risen by 3.6% over two weeks and are trading at last month's level, but today the market will feel strong pressure from the updated report. Yesterday, December wheat futures fell: Wheat exports from the United States in the 2025/26 MY (as of December 7) amounted to 13.634 million tons, which is 20.91% more than in the same period last year. In 6 months of the season, 55% of the forecasted volume for the entire marketing year has already been ...