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Wheat Watch: Global Supply Grows, U.S. Prices Steady

Wheat Watch: Global Supply Grows, U.S. Prices Steady

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This is your Daily Wheat Price Tracker with Vanessa Clark podcast.

Welcome back to another episode of Daily Wheat Price Tracker. I’m Vanessa Clark, and as always, I’m here to keep you updated with the latest news, price movements, and actionable insights in the wheat market. Whether you’re a farmer, trader, baker, or just a grain enthusiast, thanks for tuning in.

Let’s get right into today’s numbers. On October seventeenth, the Chicago Board of Trade closed December wheat futures at five dollars and two and a half cents per bushel. March wheat finished at five eighteen and three-quarters, and the May contract ended at five twenty-nine and a half. Kansas City wheat for December settled at four ninety-one and a half, while Minneapolis wheat closed for December at five forty-eight and a half, down one cent for the day. So what does that mean? The wheat market edged up just slightly today, with prices bouncing between a penny lower to about three cents higher across the major contracts.

Now, if we zoom out for a bit of global context, there are some key headlines driving sentiment. Australia’s Western region is expected to deliver a near-record wheat crop thanks to great weather and more land shifting from pasture to cropping. The local grain industry lifted its production estimate to over twelve and a half million metric tons. On the flipside, Ukraine’s wheat exports are down by twenty-one percent this season, and Russia is trying to stimulate more wheat sales by sharply slashing export taxes for the rest of October.

Argentina remains another area to watch. Local forecasts warn that a cold snap could hit key wheat regions next week, potentially putting some of the country’s bumper crop at risk. Right now, the Buenos Aires Grain Exchange is sticking with a prediction of twenty-two million metric tons for the season. If that holds, it’ll be Argentina’s second-largest wheat crop ever.

So what’s the big takeaway for buyers and sellers here in the U.S.? The world has plenty of wheat right now, and global inventories are growing. That’s keeping prices from breaking out, even as recent weather has kept things interesting in South America and Australia. As the U.S. harvest finishes up and winter wheat planting progresses, volatility could pick up—especially if export trends shift or political headlines move the market.

If you’re a producer, this is a good time to review your forward contracts and storage plans. With abundant supply and trade tensions cooling a bit, the odds favor steady-to-soft prices in the near term unless unexpected weather or policy changes hit the headlines. Buyers looking to lock in flour or feed costs might find current levels attractive for covering fall and winter needs.

That’s it for today’s rundown on wheat price news. I’m Vanessa Clark—thanks for listening to Daily Wheat Price Tracker. If you found today’s episode useful, don’t forget to subscribe, share with friends, and tune in again tomorrow for another fresh update. Have a great evening, and may your fields—and portfolios—stay golden.

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