EL7.AI
CommoditiesMedium•26 October 2026•
2 min read

U.S. wheat contract falls 1.46% to 658.50 cents per bushel on October 26

Key Facts

1The U.S. wheat contract fell 1.46% to 658.50 cents per bushel on October 26, 2026.
2The share of sea routes in Ukrainian wheat exports fell to 78% in July-September 2026, from 98% a year earlier.
3Egypt’s wheat imports totaled 358,925 tonnes in September 2026, down 50% month on month and 74% year on year.
4A Russian official said Moscow sees no possibility of reviving the grain deal in its previous form.

The U.S. wheat futures contract fell 1.46% to 658.50 cents per bushel on October 26, according to Investing.com data. The contract had settled at 668.25 cents per bushel in the October 23 session, down 0.41% that day. These readings place Monday’s move within a decline across the two sessions recorded in the data. In Moscow, Russian Deputy Foreign Minister Alexander Alimov said his country sees no possibility of reviving the grain deal in its previous form. His statement limits expectations for restoring the agreement, even as the issue continues to be discussed at the United Nations.

Alimov said the restoration of the grain deal is being discussed within the United Nations framework and that some countries want to revive it in some form, but that does not suit Moscow. He added that the United Nations had been unable to guarantee its commitments regarding Russian agricultural and fertilizer exports. Speaking about the deal, he said, "We see no possibility of reviving the grain deal in any form." The agreement dates to July 2022, when it was brokered by the United Nations between Turkey, Russia, the United Nations and Ukraine. It allowed Ukraine to export grain by sea during the war.

S&P Global data show a shift in the routes used to export Ukrainian wheat in the third quarter of 2026. The share transported by sea fell to 78% of exports between July and September, compared with 98% in the same period a year earlier. By contrast, rail accounted for 17% and ferries for 4% over the same period. The company said wheat importers from Egypt to Bangladesh face supply and trade-flow disruption. Turkey and Bangladesh turned to alternative sources, while Egypt faced a shortage of dedicated supplies.

In Egypt, wheat imports totaled 358,925 tonnes in September 2026, down 50% from August and 74% from September 2025, according to S&P Global. Ukraine replaced Russia as Egypt’s largest supplier, shipping 136,921 tonnes during the month. The drop in imports coincided with a reshuffling of supplier rankings and disruption to trade flows in the Black Sea. The company cited local reports referencing Egypt’s Ministry of Agriculture as saying government reserves were sufficient for up to six months of consumption. EL7.AI reported on September 3 that wheat prices had fallen amid Russian hints of prospects for peace in the Black Sea.

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