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CBOT wheat rose 1.5% on November 13 to $5.93 1/4 per bushel after renewed strikes by Russia and Ukraine followed failed talks on easing Black Sea tensions and securing safe shipping. Brazil's Conab cut its 2026 wheat estimate from 5.7 to 5.3 million tons, while Argentina's Rosario exchange raised its forecast from 23.8 to 24.3 million tons.
Soybeans gained 1% and corn 0.7%.
Renewed Black Sea disruption threatens wheat export flows and supports wheat prices, while Brazil's smaller crop tightens South American supply, partly offset by Argentina's larger forecast. Corn and soybean gains add upward pressure on feed grain costs for buyers.
ukragroconsult.comNov 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.
