# CBOT Wheat Futures Slide Amid Worries Over Black Sea Grain Trade

> Chicago wheat futures fell back on October 11, 2022 after a three-month high the previous day, as escalating Russia-Ukraine war signs raised doubts about Black Sea grain trade. Russian Deputy Prime Minister Abramchenko suggested Moscow could scrap its grain export quota for the second half of the season given a bumper harvest. Algeria's OAIC bought an estimated 400,000-480,000 tonnes of milling wheat, likely Russian-sourced.

- Date: 2022-10-11 · published 2022-10-11T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/5086-cbot-wheat-futures-slide-amid-worries-over-black-sea-grain-trade
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Expectations of large Russian export supplies and a possible relaxed quota weigh on world wheat prices, offsetting war-related supply risk. Lower wheat prices make wheat cheaper as a feed ingredient relative to corn.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-11-01 | [Wheat futures tumble after Russia rejoins Black Sea grain corridor deal - Fastmarkets](https://feedsoft.ai/events/7290-wheat-futures-tumble-after-russia-rejoins-black-sea-grain-corridor-deal.md) | +7.3% | +7.7% |
| WHEAT | 2022-11-22 | [Black Sea grain corridor lives on](https://feedsoft.ai/events/14443-black-sea-grain-corridor-lives-on.md) | -1.2% | -3.7% |
| WHEAT | 2025-02-13 | [Ukrainian traders assess future grain trade flows amid prospects of war's end](https://feedsoft.ai/events/14228-ukrainian-traders-assess-future-grain-trade-flows-amid-prospects-of-war-s-end.md) | +1.9% | -3.0% |
| WHEAT | 2022-03-14 | [Russia gradually resuming wheat exports from Black Sea ports](https://feedsoft.ai/events/14503-russia-gradually-resuming-wheat-exports-from-black-sea-ports.md) | -1.8% | +6.6% |
| WHEAT | 2026-10-01 | [US Harvest Progress Caps Corn Gains as Black Sea Talks Pressure Wheat](https://feedsoft.ai/events/17499-us-harvest-progress-caps-corn-gains-as-black-sea-talks-pressure-wheat.md) | -2.9% | +0.5% |
| KWHEAT | 2022-11-01 | [Wheat futures tumble after Russia rejoins Black Sea grain corridor deal - Fastmarkets](https://feedsoft.ai/events/7290-wheat-futures-tumble-after-russia-rejoins-black-sea-grain-corridor-deal.md) | -2.2% | -7.9% |
| KWHEAT | 2026-10-23 | [Wheat prices fall to 14-week low on Black Sea hopes \| Peepals](https://feedsoft.ai/events/449-wheat-prices-fall-to-14-week-low-on-black-sea-hopes-peepals.md) | -2.9% | — |
| KWHEAT | 2023-08-23 | [US grain markets bumpy amid global challenges \| World Grain](https://feedsoft.ai/events/34625-us-grain-markets-bumpy-amid-global-challenges-world-grain.md) | -3.4% | -1.5% |

## Sources

- agriculture.com: https://www.agriculture.com/markets/newswire/cbot-wheat-futures-slide-amid-worries-over-black-sea-grain-trade

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.