Wheat Prices man

Wheat prices averaged USD 653 cents per bushel in October, down 10.1% from September. On 30 October, the commodity traded at USD 604 cents per bushel, down 10.7% from 30 September.

In October, wheat prices saw their largest monthly decline in over two years due to an improving supply outlook. Hopes for a potential easing of Russia–Ukraine hostilities in the Black Sea region and an upward revision to Argentina’s production forecast weighed on the market, as did the USDA’s downward revision of U.S. wheat exports in 2026/27 amid lagging sales and weak competitiveness. Meanwhile, reports of a Chinese inquiry into purchasing U.S. wheat lent some support later in the month.