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Wheat futures rose more than 1% to around $5.90 per bushel, rebounding from a four-month low reached on November 12, amid uncertain Russia-Ukraine peace negotiations. Argentina raised its 2026/27 wheat production forecast by 500,000 tons to 24.3 million tons, and Australia's harvest is now expected near 32 million tons.
Larger Argentine and Australian crops add supply and cap wheat rallies, while Black Sea peace prospects remain a source of upside risk.
m.fx.coNov 13, 2026After 361 past bullish geopolitics events, Wheat (SRW) moved a median +0.7% over 5 sessions (58% higher; middle half -1.4% to +3.7%), and +1.3% 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.
