# Wheat market analysis – stable futures, softer Black Sea basis, November 2026

> Euronext wheat futures from December 2026 to May 2028 traded in a tight 218–231 EUR/t band with little day-on-day change, while CBOT wheat ticked higher across the curve. Ukrainian FOB/Odesa and inland wheat values eased since mid-October, while French and U.S.-linked quotes were stable to marginally firmer.

- Date: 2026-11-05 · published 2026-11-05T09:14:51.452Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/81557-wheat-market-analysis-stable-futures-softer-black-sea-basis-november-2026
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Ample global supplies and aggressive Black Sea competition are capping rallies, leaving prices balanced but fragile. Dry western Russian weather and U.S. crop condition ratings are the main sources of medium-term upside risk for wheat buyers.

## Read by commodity

- WHEAT: neutral
- KWHEAT: neutral

## Sources

- commodity-board.com: https://commodity-board.com/wheat-market-steady-as-black-sea-basis-softens-and-matif-tracks-sideways

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