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This is your Daily Wheat Price Tracker with Vanessa Clark podcast.
Hello and welcome back to the Daily Wheat Price Tracker. I am Vanessa Clark, here with your need-to-know wheat news, trading analysis, and the latest updates shaping the wheat market today. If you’re a grower, trader, baker, or just someone curious about the food on your table, you are in the right place. Let’s jump in.
As we roll into Thursday, October twenty-third, the conversation dominating the wheat market is **abundant global supply and what it means for prices right now**. According to grain market summaries and Chicago Board of Trade data, **December wheat closed at five dollars and thirteen cents per bushel**, ticking up nine and a quarter cents on the day. In parallel, the Minneapolis December contract ended at five dollars and fifty-eight cents per bushel, also posting gains. Kansas City wheat tracked close behind, settling right at five dollars per bushel, up over eleven cents. So, we are seeing a minor bounce in prices today, but the big picture is still all about wide-ranging supply pressure.
What’s fueling these numbers? Recently, the International Grains Council raised its global wheat production outlook for the upcoming 2025-2026 season. The IGC estimates world wheat production could hit an all-time record of eight hundred twenty-seven million tonnes. This is eight million tonnes more than their last projection and over one percent higher than the previous season. That means farmers from Russia to the United States and Argentina have all reported stronger harvests than expected, with Russia alone bumped up to an estimated eighty-six and a half million tonnes, thanks to phenomenal yields in Siberia.
With such high supplies, we also see a build-up in global wheat stocks. Ending stocks, or leftover supplies, may reach their biggest volume in three years by next season. According to the IGC, world wheat stocks could rise to two hundred seventy-five million tonnes, easing concerns over tightening supplies but also putting a damper on excitement for price rallies.
What does this all mean if you’re buying or selling wheat, planning next season, or simply watching the commodity markets? First, **wheat prices are at five-year lows** despite small rebounds this week. If you’re a buyer, this could be an opportunity to secure contracts while prices are below their typical levels. For producers, especially in the Northern Hemisphere, the continued strong supply pace means factoring in tighter margins and keeping an eye on future market signals, like weather trends and export demand, which could still introduce volatility.
We are also watching China’s role closely. Chinese interests have recently been exploring wheat options on the global market, with a focus on both U.S. and Australian vendors, but Australia appears to be in a strong spot for filling these needs immediately. Any change in Chinese buying activity could ripple through these already sensitive price levels.
Before we sign off, here are a couple of practical takeaways: If you are marketing wheat, stay in regular communication with your grain merchandisers and consider your forward contracting options to manage risk. If you follow wheat as an ingredient buyer, watch for short-term price softness but remain alert to potential weather developments in key producing regions that could quickly shift the balance. And if you are an observer wondering about bread prices in your local grocery store, today’s market signals lower wheat costs are likely to persist a bit longer, offering some relief on the shelf.
That wraps up today’s edition of the Daily Wheat Price Tracker. Thanks so much for listening. If you found this update helpful, be sure to subscribe and share the podcast with a friend. I am Vanessa Clark, and I will meet you back here next time with more essential news and analysis. Until then, take care and happy tracking.
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