Wheat Futures Reach Two-Year Highs

Wheat Futures Reach Two-Year Highs

On 20 July 2026, wheat futures on the Chicago Board of Trade climbed to two-year highs as traders priced in heightened risk of disruptions to Black Sea grain shipments. The market was expected to open steady to up three cents per bushel at 8:30 a.m. CDT, reflecting the growing anxiety after Ukraine and Russia intensified attacks on ports and vessels in the Black Sea and the Sea of Azov. Ukrainian officials reported that a Russian missile strike on a vessel carrying corn near Odesa killed ten people, underscoring the security concerns.

September soft red winter wheat on the CBOT remained unchanged at $6.82‑3/4 per bushel. September hard red winter wheat in Kansas City rose 2‑3/4 cents to $7.35 per bushel, while September spring wheat in Minneapolis increased 4‑1/2 cents to $6.96‑1/4 per bushel.

The price movements were driven solely by the perceived supply risk; no fundamental demand changes were noted. The article notes that the content was generated with AI assistance and reviewed by an editor.