Loading…
Paris wheat futures opened the week slightly firmer while Chicago eased. Russia announced it will reopen the Sea of Azov to shipping until November 15, and analysts report the first grain vessels leaving Azov ports.
Traders are also watching whether China will buy more US winter wheat, as the US-China tariff dispute is paused until January 10, 2027 and China plans to cut tariffs on US farm goods including wheat.
Reopened Azov shipping adds Russian wheat supply to export markets, which pressures prices. Any real Chinese buying of US winter wheat would support Chicago prices, so the net effect is mixed and the direction depends on those purchases.
topagrar.comChristian BrüggemannNov 3, 2026After 205 past neutral trade events, WHEAT moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.7%), and +0.5% over 20.
After 20 past neutral trade events, KWHEAT moved a median -0.7% over 5 sessions (30% higher; middle half -4.1% to +1.4%), and -4.0% 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.
