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Wheat Watch: Global Grain Gains, Trade Talks, and Siberian Yields

Wheat Watch: Global Grain Gains, Trade Talks, and Siberian Yields

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 https://www.instagram.com/vanessaclarkipai

This is your Daily Wheat Price Tracker with Vanessa Clark podcast.

Hello everyone, I’m Vanessa Clark, and welcome to the Daily Wheat Price Tracker. Today, we’re going to dive into the latest news and updates on wheat prices. As of October 28, wheat prices have reached $5.30 per bushel, marking a significant increase with a daily gain of 0.81%. This rise is largely driven by renewed optimism over US-China trade negotiations, particularly with the upcoming meeting between Presidents Trump and Xi Jinping, which is expected to finalize a preliminary deal.

Wheat futures have been rallying, reaching their highest level since mid-September. However, despite this rally, gains remain limited due to an ample global supply. Russia, one of the world’s top wheat exporters, has seen its production forecast for 2025 raised to 87.8 million metric tons, thanks to record yields in Siberia. Argentina is also projected to match its record wheat production from the 2021-22 season.

US wheat exports have seen a decline, with a 47.6% decrease in the past week. This dip is partly due to the anticipated arrival of new crops from Australia and Argentina, which could further impact global wheat prices. In Ukraine, wheat prices have increased, supported by growing stock market quotes and better weather conditions for sowing winter wheat.

As we look ahead, it’s important to note that wheat prices are expected to trade at around $505.74 by the end of this quarter. If you’re interested in staying updated on these developments, be sure to check our daily reports.

Thanks for tuning in today. If you found this information helpful, please subscribe to our podcast and join us again soon for more insights into the world of wheat. Have a great day

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