Wheat and corn prices drop in global markets

Wheat and corn prices declined on both the Chicago Mercantile Exchange (CBOT) and Euronext between October 21 and 22, 2026, as abundant global supplies and new diplomatic hopes between the United States, Russia, and Ukraine influenced market sentiment. The decline in prices reflects traders' expectations of stable supply and potential easing of geopolitical tensions.

Wheat prices fall on multiple exchanges

Wheat prices on the CBOT fell between 9 and 15 cents per bushel depending on the contract, with the December 2026 contract falling 15 cents to 628.25 cents per bushel. On Euronext, wheat prices dropped between 5 and 9 euros per ton, with the December 2026 contract decreasing by 8.75 euros per ton to 232.75 euros per ton.

Traders reduce long positions on wheat

Financial operators reduced their net long position on wheat by about 24,100 lots on Euronext, bringing it down to 153,300 lots as of October 16. This reduction indicates a shift in market sentiment toward more cautious trading strategies.

NATO strengthens Black Sea presence

NATO has decided to strengthen its presence in the Black Sea by deploying additional maritime patrol aircraft, drones, and radar systems following several attacks against merchant ships near Romanian and Bulgarian coasts. This decision follows a series of incidents affecting at least five cargo ships and causing several casualties among crews.

Diplomatic talks show progress

Diplomatic efforts between the United States, Ukraine, and Russia have seen a new advancement in recent days, with meetings between American envoy Steve Witkoff with Presidents Volodymyr Zelenskyy and Vladimir Putin indicating a readiness to resume trilateral discussions starting in November. However, no concrete agreement has emerged yet, and significant differences remain on territorial and security issues.

European buyers return to wheat markets

Egypt and Jordan have seen a return of buyers supporting European wheat. The Egyptian public agency Future of Egypt purchased about five wheat cargoes this week, while the Jordanian public cereal buyer launched a new international tender for the purchase of 120,000 tons of flour wheat, with a deadline for submitting bids set for October 27, 2026.

Corn prices fluctuate on different exchanges

Corn prices on the CBOT slightly rebounded on Wednesday following the rise in energy prices, gaining 1.25 cents per bushel on the 2027 nearby contracts and losing between 1 and 2 cents per bushel on more distant contracts. On Euronext, corn prices lost between 2 and 7 euros per ton on most contracts, with the March 2027 contract falling by 3.25 euros per ton to 268.50 euros per ton.

Ukrainian corn prices continue to fall

Ukrainian corn prices continue to fall under the pressure of harvests, with buyer prices for feed corn generally ranging between 5,500 and 7,000 UAH per ton CPT, while in Ukrainian ports prices have further declined by 5 to 8 dollars per ton, coming to 154-160 dollars per ton CPT port. However, in western Ukraine, prices are holding up more due to competition between domestic users and traders who prefer land exports to the European Union.

Ukraine's corn harvest exceeds expectations

Ukraine harvested 5.36 million tons of corn on only 20% of the area, compared to 4.91 million tons at the same period last year. The average yield reached 5.88 tons per hectare, compared to 5.49 tons per hectare in 2025. This confirms that Ukrainian yields are currently higher than those of last year and generally better than expected in several regions.

Ukrainian corn exports rise

Ukrainian corn exports reached 2.07 million tons by October 19, compared to 1.27 million tons at the same date last year, confirming the competitiveness of Ukrainian corn in the global market. This increase highlights the country's growing role in international agricultural trade.

European wheat and corn prices show range

French physical markets on October 22, 2026, showed wheat prices ranging from 214.50 to 240.50 euros per ton, with corn prices ranging from 266.75 to 313.75 euros per ton. The dollar to euro exchange rate closed at 0.8925 euros per dollar.

Global markets close with mixed signals

The Chicago futures market closed with wheat at 624.75 cents per bushel and corn at 460.50 cents per bushel. On Euronext, the December 2026 wheat contract closed at 234.25 euros per ton, while the November 2026 corn contract closed at 285.00 euros per ton. International energy prices showed crude oil at 99.47 dollars per barrel on the Nymex.

Maritime freight indices show mixed performance

Maritime freight indices showed the Baltic Dry Index (BDI) at 2693, with a 13.00 increase, and the Baltic Panamax Index (BPI) at 2151, with a 53.00 decrease. These changes reflect varying levels of demand for shipping services across different regions.