Markets
  • Corn$4.97/bu-1.0%
  • Soybeans$12.77/bu-0.5%
  • Soybean meal$347.00/US ton-1.8%
  • Soybean oil$0.6863/lb+1.9%
  • SRW wheat$6.83/bu+0.0%
  • HRW wheat$7.34/bu-0.4%
  • Live cattle$221.40/cwt-0.8%
  • Feeder cattle$331.07/cwt-1.6%
  • Lean hogs$70.08/cwt+1.7%
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Commodity Markets

Black Sea and Red Sea Disruptions Drive Wheat Importers to Costlier Alternative Origins

Ongoing shipping disruptions in the Black Sea and Red Sea are compelling wheat importers across Asia, the Middle East, and North Africa to source from more expensive origins such as the United States, Baltic states, Romania, Argentina, India, and Australia. Higher war-risk insurance premiums and freight costs are keeping physical wheat prices structurally elevated even as futures benchmarks have eased slightly from late-August highs, according to CMB News.

3 min read