{
  "id": 17018573,
  "title": "Wheat inches up from near four-month low, Black Sea exports in focus",
  "url": "https://urgent.news/2026/10/29/wheat-inches-up-from-near-four-month-low-black-sea-exports-in-focus",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-29T06:20:25.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40446477/wheat-inches-up-from-near-four-month-low-black-sea-exports-in-focus"
  },
  "original_language": "en",
  "account": "Wheat prices rebounded on Thursday, climbing from a near four-month low that was reached earlier in the week. The boost in prices came after Russia permitted grain export vessels to pass through the Sea of Azov, a move that had been halted since July 10 due to Ukrainian drone attacks. This development, which allowed shipments to proceed through the Kerch Strait, boosted supply prospects and provided a much-needed reprieve for wheat traders.\n\nDuring the same period, soybean prices slipped, while corn prices were largely unchanged. The pressure on both soybeans and corn was attributed to an abundant harvest in the United States, which increased supply and put downward pressure on prices. According to one trader based in Australia, the wheat market had already absorbed much of the gains from the Black Sea supply issue, and traders believed that the current price levels were stabilizing.\n\nThe most-active wheat contract on the Chicago Board of Trade (CBOT) increased by 0.1%, closing at $5.99-1/2 per bushel. Prior to the recent surge, the wheat price had hit its lowest point since early July on Wednesday. In addition, EU soft wheat area for the upcoming harvest was reported to have declined.\n\nRussian authorities granted permits for grain export vessels to leave the Sea of Azov, a development that had not taken place since July 10. The permits would remain valid through November 15 and would include approval for a Russian naval convoy to escort the grain vessels through the Black Sea. Two sources also revealed that the Russian naval convoy would accompany the vessels throughout their journey through the Black Sea.\n\nDespite these positive developments, US harvest supplies continued to exert downward pressure on CBOT soybean and corn prices.",
  "summary": "SINGAPORE: Wheat firmed on Thursday, as bargain buying lifted prices from a near four-month low hit in the previous session after Russia allowed grain export vessels to leave the Sea of Azov for the first time since July 10, boosting supply prospects. Soybeans slid, while corn was largely unchanged, with both products under pressure from a US harvest that boosted supply. “The wheat market has…",
  "key_points": [
    "Wheat prices rise from near four-month low",
    "Russia permits grain exports through Sea of Azov",
    "US harvest supplies pressure soybean and corn prices"
  ],
  "editors_take": "The resumption of grain shipments through the Sea of Azov eases supply concerns for wheat traders, even as abundant American harvests continue to depress prices for corn and soybeans.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}