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December Chicago wheat rose 1.5% to $5.93 1/4 a bushel as Russia and Ukraine kept up strikes after talks failed to ease Black Sea tensions. Brazil cut its 2026 wheat output estimate to 5.3 million tonnes, while Argentina's Rosario exchange raised its forecast to 24.3 million tonnes.
USDA data showed corn and soybean export sales, with wheat sales falling 66% to a marketing-year low.
Continued Black Sea strikes and no deal on shipping keep a risk premium in wheat, supporting prices and feed grain costs for buyers. Brazil's smaller crop is offset in part by Argentina's larger forecast, leaving the net supply effect modest.
au.marketscreener.comDow JonesNov 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.
