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Chicago soft red winter wheat futures fell about 15 cents to near $6.28 a bushel, a 14-week low, as Black Sea peace hopes eased supply concerns. US futures were down roughly 6.5% to 6.8%, about 21% below the early-September three-year high.
Lower wheat prices reduce the cost of wheat used in feed rations and put downward pressure on feed grain values.
peepalsglobal.comOct 23, 2026After 80 past bearish geopolitics events, WHEAT moved a median -0.4% over 5 sessions (44% higher; middle half -1.4% to +1.9%), and -0.5% over 20.
After 16 past bearish geopolitics events, KWHEAT moved a median -3.0% over 5 sessions (13% higher; middle half -4.3% to -1.9%), and -0.5% over 20.
After 87 past bearish geopolitics events, CORN moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +2.1%), and +0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
