Global wheat market: Trade prospects struggle against competitive pressures, volatile landscape likely to persist

Published Nov 10, 2025

Tridge summary

Core Insight: According to foreign media on November 9, as of the week of November 7, 2025, the global wheat market is fluctuating between optimistic expectations of eased trade relations between China and the U.S. and fierce competition in the export market. Chicago wheat futures, after experiencing a rebound due to short-covering, are once again under pressure due to the competitive disadvantage of U.S. wheat in the export market. Russian wheat exports are accelerating, and wheat from the Southern Hemisphere, which is being harvested and entering the market, is casting a shadow over the wheat market.

Original content

On Friday (November 7), the Chicago Board of Trade (CBOT) December soft red winter wheat futures closed at $5.2775 per bushel, down 1.17% from a week earlier. The Kansas City Board of Trade (KCBT) December hard red winter wheat futures closed at $5.1925 per bushel, down 1.00%. The Minneapolis Grain Exchange (MGEX) December hard red spring wheat futures closed at $5.58 per bushel, up 0.9%. The Euronext December wheat price was 191.50 euros per ton, down 0.8%. The Buenos Aires Grain Exchange quoted Argentine wheat at $215 per ton, unchanged from the previous week. On Friday, the ICE US Dollar Index closed at 99.471 points, down 0.16% from a week earlier. Chicago wheat futures rise and fall, highlighting fundamental pressure This week, the U.S. wheat market experienced a typical "news-driven" situation. At the beginning of the week, rumors of Chinese inquiries and even purchases of U.S. wheat continued to ferment, triggering large-scale short-covering. However, the upward trend did ...

Source: Foodmate