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Barchart columnist Jim Wyckoff says March soft red winter wheat futures are trending down after hitting a four-month low last week, with technical support near $6.07 1/2 and a downside objective of $5.00. He notes moisture replenishment in the US Plains for next year's crops and slight progress on a Russia-Ukraine ceasefire and alternative grain export routes.
Improving Plains moisture and possible workarounds for Black Sea shipments reduce supply risk premiums, pointing to softer wheat prices that lower feed-grain input costs for buyers.
barchart.comJim WyckoffNov 2, 2026Not enough comparable past events yet for a historical read.
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.
