Global wheat market: Technical rebound in US wheat, concerns over Black Sea situation

Published 2025년 12월 29일

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Core tip: According to foreign media on December 28, as of the week of December 26, 2025, global wheat market prices have risen, mainly due to the escalating tensions in the Black Sea, which have raised concerns about wheat export prospects, and the expansion of the drought range in the U.S. Great Plains. Moreover, after a recent continuous decline, the technical aspect of the wheat market is severely oversold, indicating a need for a rebound correction. However, the massive global supply continues to exert downward pressure.

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On Friday (December 26), the Chicago Board of Trade (CBOT) March soft red winter wheat futures closed at $5.19 per bushel, up 1.8% from the previous week. The Kansas City Board of Trade (KCBT) March hard red winter wheat futures closed at $5.335 per bushel, up 3.54%. The Minneapolis Grain Exchange (MGEX) March hard red spring wheat futures closed at $5.7925 per bushel, up 0.22%. The Euronext March wheat price was 190.25 euros per ton, up 1.9%. The Argentine Upper River wheat price was $209 per ton, unchanged from the previous week. The ICE U.S. Dollar Index closed at 97.698 points, down 0.56% from the previous week. Black Sea tensions escalate, attacks slow Ukraine grain exports This week, the risk of supply disruptions in the Black Sea has increased, boosting Chicago wheat futures, which have reached their longest upward trend since April. Ukraine said that Russia launched missile and drone attacks on Ukraine on Wednesday, damaging energy and port facilities in the Odessa region ...

Source: Foodmate