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December Chicago SRW wheat gained 9 cents on Friday to settle at $5.93¼ a bushel, while Kansas City HRW and Minneapolis spring wheat also rose. Talks in Abu Dhabi ended without an agreement on a safe-shipping corridor for Russian and Ukrainian grain, and SovEcon cut its 2026-27 Russian wheat export forecast by 700,000 tonnes to 36 million tonnes.
Thursday's sell-off had taken December to a nine-month low.
A stalled Black Sea corridor and a lower Russian export forecast tighten global wheat supply, which supports prices. Weekly gains were small, however, so the market is still weighing that risk against weak recent trading.
ainvest.comCharles HayesNov 14, 2026After 363 past bullish geopolitics events, Wheat (SRW) moved a median +0.6% 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.
