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European wheat futures dropped toward multi-month lows as Russia and Ukraine confirmed negotiations for the following week. The Euronext December milling wheat contract settled 1.3% lower at €225.25 per metric ton, near a 3.5-month low.
Chicago wheat also declined, moving closer to a four-month low.
Expectations of de-escalation in the Black Sea conflict reduce the risk premium on wheat, since a settlement could restore grain trade flows. Feed buyers may see softer wheat prices as a result, though the outcome of the talks remains uncertain.
investing.comNov 3, 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.
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.
