Wheat futures on track for ninth straight weekly loss
Current overview (not historical)
Chicago wheat futures are set for a ninth consecutive weekly loss, extending a streak that began in early September and erasing roughly 21% of value. The decline, the longest since 1997, is driven by geopolitical factors including the Russia-Ukraine and Palestine conflicts, expectations of resumed Black Sea grain exports if peace is reached, Russia's shift to Baltic exports, and increased Southern Hemisphere supply. As of late October, the market also reflects record net short positions held by hedge funds, with prices viewed as deeply oversold.
Written with AI from the reporting · updated 10/29/2026
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- 1Unclassified fact stationOct 28, 00:00recorded Oct 29, 21:42single source
Wheat futures on track for ninth straight weekly loss
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- Subject：
- Chicago wheat futures
- Action：
- weekly loss streak
- Object：
- CBOT benchmark wheat contracts
- Occurred (fact side)：
- Oct 28, 00:00
- Published (valid side)：
- Oct 29, 20:57
- First seen (known side)：
- Oct 29, 21:42
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- BeInCryptoRelated fact: single sourceWheat futures extend losing streak to nine weeks, longest since 1997 amid geopolitical shifts
Report first recorded Oct 29, 21:42
Chicago wheat futures are on track for a ninth consecutive weekly decline, the longest losing streak since 1997, with prices down roughly 21% from early September highs. Despite tight US supplies, with winter wheat crops near a 50-year low, the selloff is driven by hopes for US-led Russia-Ukraine peace talks and expectations of resumed Black Sea grain shipments. Hedge funds hold record net short positions, and the decline coincides with broader commodity movements affecting oil, Fed policy, and Bitcoin.
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Event activity trend
- Latest comparable
- 3
- Comparable peak
- 10Oct 29, 22:00
- 24h change
- -49%
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