15.10.202615:26:28UTC+00Wheat Rebounds from 2-Month Low

Wheat futures climbed back above $6.75 a bushel, rebounding from a more than two-month low of $6.69 on October 13, as traders weighed mounting security risks to Black Sea shipping. Market anxiety increased after Russian drones reportedly struck two chemical tankers in Romanian territorial waters, heightening fears of further disruption to a critical grain-export corridor.

Geopolitical tensions intensified further when Ukrainian President Volodymyr Zelenskyy ended a three-day halt on strikes against Russian oil refineries. He cited ongoing Russian attacks on Ukraine’s energy infrastructure and uncertainty surrounding future US support. The move followed growing friction with President Donald Trump over Washington’s proposed easing of restrictions on Russian diesel exports and reported curbs on Ukraine’s access to Starshield satellite services.

Still, some supply concerns have been tempered by higher volumes of Russian wheat exports via alternative Baltic routes, which have partially offset the risks to Black Sea flows.