Wheat falls 2.25% to 628.80 cents a bushel, hits lowest since July
Key Facts
The wheat index tracked by Trading Economics through contracts for difference fell to 628.80 U.S. cents a bushel on October 21, 2026, as a resumption of Russian-Ukrainian talks was proposed. The decline was 2.25% from the previous day, according to the platform's reading for that date. Trading Economics described the level as the lowest since July 9, taking the index back to a low not seen since that date. Investing.com's U.S. wheat historical prices table listed the price for the previous session, October 20, at 643.25 U.S. cents a bushel. The same table listed the price at 673.25 U.S. cents a bushel on October 14, above the reading for the day before the decline.
Against the U.S. market backdrop, the Department of Agriculture estimated total wheat production in 2026 at about 1.53 billion bushels, according to a statement from the National Agricultural Statistics Service. The agency said production fell 23% from the revised 2025 total. On trade, the October report from the department's Economic Research Service cut its forecast for U.S. wheat exports for the 2026/27 season. The report put the reduction at 25 million bushels from the previous estimate. That brought projected exports for the season to 750 million bushels, an estimate that, together with annual production figures, outlines the latest official picture of U.S. wheat.
On the diplomatic front, Kremlin aide Yuri Ushakov said the proposed round of talks should focus on security arrangements after the conflict ends, Reuters reported. Ushakov defined their objective as "building a security system for Russia and Ukraine after the conflict ends." The agency reported that no such talks had been held since February, placing the proposal in the context of a break in negotiations. In earlier coverage of a proposed energy-sector ceasefire, Ukrainian President Volodymyr Zelenskiy said his country supported the truce. He added, according to Reuters: "Ukraine supports a ceasefire, and it is important that Russia supports it too." He said Kyiv was awaiting details from the U.S. side on the proposals.
The nearest scheduled event for the market is the release of the Commitments of Traders report, with the U.S. Commodity Futures Trading Commission's 2026 calendar listing a publication date of October 23. The commission sets the release time for these reports at 3:30 p.m. U.S. Eastern time. The reports usually cover positions as of the Tuesday preceding publication, according to the commission's official schedule. The proposed timing for the resumption of Russian-Ukrainian talks is after November 10, the Associated Press reported, citing Ushakov. The Kremlin aide said Russian President Vladimir Putin had agreed "in principle" to resume talks after that date.