The start of the new 2026 financial year makes it possible to highlight several key developments in the Russian wheat market during the first half of the 2025/26 marketing year. These include higher production, slower export activity, very stable prices and the continued dominance of three major exporters in terms of market share.

The Constanta-Varna-Burgas (CVB) wheat market has entered the 2025-2026 marketing year from a firmer price base than last season, but underlying fundamentals point to a more challenging trading environment. While early summer values reflected a sense of tightness, high regional yields, weak margins and cautious farmer behavior are reshaping market dynamics and export flows, according to sources.

Chicago and Kansas wheat futures decreased on Friday December 5 as market participants focused on ample global supplies and favorable growing conditions in competing export regions, such as Europe and Canada.

The 2026 Black Sea Wheat and Corn Outlook highlights a stabilized yet evolving grain market, with Russia and Ukraine adapting to post-conflict logistics, competitive pricing, and strong production despite ongoing regional challenges.

The Global Grain Geneva 2025 Conference highlighted an industry navigating a "new normal" of uncertainty, where geopolitical upheavals, climate challenges, and sustainability demands are reshaping grain markets, supply chains, and risk strategies.

The 2026 Black Sea Wheat and Corn Outlook highlights a stabilized yet evolving grain market, with Russia and Ukraine adapting to post-conflict logistics, competitive pricing, and strong production despite ongoing regional challenges.

Fastmarkets’ weekly recap of the main movements in global cash markets.

Fastmarkets has corrected its AG-WHE-0050 Wheat CFR North Africa price assessment, which was published incorrectly on October 2-14 due to a procedural lapse. Fastmarkets has also corrected all the related inferred prices.

US and European wheat futures were little changed near multi-year lows on Monday October 20, with market participants weighing abundant global supply, reports of hedge fund short covering and a rare USDA data release.

Fastmarkets’ weekly recap of the main movements in global agriculture cash markets.