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BusinessQuiet 3d · day 3

Wheat prices hit 3.5-year high as Black Sea shipping crisis deepens

Global importers face sharply higher costs as Russia-Ukraine war disrupts grain supplies from the region.

newest coverage 2d agosummary written 2d ago4 pieces NewswiresMastodonGoogle News

What to know

  • Chicago wheat futures have climbed 40% to a three-and-a-half-year high as Black Sea shipping disruptions block major export routes since July.
  • Russian wheat exports collapsed to 1 million tons in September from 5 million tons last year; Ukraine's shipments halved year-over-year, leaving Asia with minimal supplies.
  • Importers in Asia, Middle East, and Africa are switching to Australian and Argentine wheat at 20–25% premiums, threatening food inflation in vulnerable regions.
  • Competition for alternative cargoes will intensify through year-end until the Southern Hemisphere harvest begins.

Ishan Bhanu Agricultural analyst at KplerOle Hansen Head of commodity strategy at Saxo BankIndonesian millers Major wheat importers

Wheat prices hit 3.5-year high as Black Sea shipping crisis deepens
japantimes.co.jp

How it unfolded 2 developments, newest first · click a bar or a number to jump articlesposts

Peak 2 pieces in one hour at Sep 22, 11 PM; 4 pieces over 3 days (3 articles · 1 post) Sep 22, 11 PM — 2 pieces · 2 articles — Google News 1, Newswires 1Sep 23, 12 AM — quietSep 23, 1 AM — quietSep 23, 2 AM — 1 piece · 1 article — Newswires 1Sep 23, 3 AM — quietSep 23, 4 AM — quietSep 23, 5 AM — quietSep 23, 6 AM — quietSep 23, 7 AM — quietSep 23, 8 AM — quietSep 23, 9 AM — quietSep 23, 10 AM — 1 piece · 1 post — Mastodon 1Sep 23, 11 AM — quietSep 23, 12 PM — quietSep 23, 1 PM — quietSep 23, 2 PM — quietSep 23, 3 PM — quietSep 23, 4 PM — quietSep 23, 5 PM — quietSep 23, 6 PM — quietSep 23, 7 PM — quietSep 23, 8 PM — quietSep 23, 9 PM — quietSep 23, 10 PM — quietSep 23, 11 PM — quietSep 24, 12 AM — quietSep 24, 1 AM — quietSep 24, 2 AM — quietSep 24, 3 AM — quietSep 24, 4 AM — quietSep 24, 5 AM — quietSep 24, 6 AM — quietSep 24, 7 AM — quietSep 24, 8 AM — quietSep 24, 9 AM — quietSep 24, 10 AM — quietSep 24, 11 AM — quietSep 24, 12 PM — quietSep 24, 1 PM — quietSep 24, 2 PM — quietSep 24, 3 PM — quietSep 24, 4 PM — quietSep 24, 5 PM — quietSep 24, 6 PM — quietSep 24, 7 PM — quietSep 24, 8 PM — quietSep 24, 9 PM — quietSep 24, 10 PM — quietSep 24, 11 PM — quietYesterday, 12 AM — quietYesterday, 1 AM — quietYesterday, 2 AM — quietYesterday, 3 AM — quietYesterday, 4 AM — quietYesterday, 5 AM — quietYesterday, 6 AM — quietYesterday, 7 AM — quietYesterday, 8 AM — quietYesterday, 9 AM — quietYesterday, 10 AM — quietYesterday, 11 AM — quietYesterday, 12 PM — quietYesterday, 1 PM — quietYesterday, 2 PM — quietYesterday, 3 PM — quietYesterday, 4 PM — quietYesterday, 5 PM — quietYesterday, 6 PM — quietYesterday, 7 PM — quietYesterday, 8 PM — quietYesterday, 9 PM — quietYesterday, 10 PM — quietYesterday, 11 PM — quietToday, 12 AM — quietToday, 1 AM — quietToday, 2 AM — quietToday, 3 AM — quietToday, 4 AM — quietToday, 5 AM — quietToday, 6 AM — quietToday, 7 AM — quietToday, 8 AM — quiet 12
Sep 23Sep 24yesterdaynow · 9:45 AM ET
  1. 2

    Price pressures expected to persist until Southern Hemisphere harvest

    Competition for cargoes is poised to intensify until the end of the year, when the Southern Hemisphere harvest kicks in. Most global importers have been holding off making alternative purchases, hoping for a Russia-Ukraine grain agreement, but local supplies are running thin.

    “The Black Sea is an important region for shipping grains, and if buyers are not able to get grain out of this region, they have to look elsewhere for supplies, which is going to drive prices up further.”
    — Ole Hansen, head of commodity strategy at Saxo Bank
    1. 3 outlets Analysis-Wheat buyers brace for higher costs as Russia-Ukraine war drags on

      first by Investing.com News, 3d ago · also Japan Times, Reuters

      1 more headline
    • thejapantimes@mastodon.social

      Global wheat buyers holding out to replenish dwindling stocks face painfully higher costs when they return to the market in the coming weeks, with world prices soaring as the Russia-Ukraine war shows no signs of abating. https://www. japantimes.co.jp/business/2026 /09/23/markets/wheat-price-russia-ukraine-war/?utm_medium=Social&utm_source=mastodon…

      thejapantimes@mastodon.socialMastodon2d agoview on Mastodon ↗
  2. background

    Importers turn to Australia and Argentina at 20–25% premium — Indonesian millers and other Asian buyers are booking cargoes from alternative suppliers, paying significantly more than Black Sea prices. Black Sea wheat from Romania is quoted around $340 per ton while Australian Premium White wheat trades around $345 per ton for October shipment—approximately 25% higher than pre-crisis Black Sea levels.

  3. 1

    Russian and Ukrainian wheat exports collapse year-over-year

    Russian wheat exports decline to around 1 million tons in September from 5 million tons last year, while Ukraine ships about 1 million tons, half of last September's levels. Indonesia receives only 60,000 tons from the Black Sea in September, down from 500,000 tons the previous year.

    “There are very few ships going in to load and whatever little is being exported out of Russia and Ukraine is going to some buyers in the Middle East and Africa. Nothing is heading to Asia.”
    — Ishan Bhanu, agricultural analyst at Kpler
  4. background

    Black Sea shipping disruptions begin affecting grain exports — Attacks on vessels and port infrastructure in the Black Sea bring cargo movements to a near standstill, blocking major wheat export routes from Russia and Ukraine.

  5. background

    Chicago wheat futures rally 40% from June lows — Benchmark wheat prices climb to a three-and-a-half-year high as supply constraints from the Black Sea region intensify competition for alternative cargoes.