Wheat’s Black Sea risk premium faded on Oct 26 as Moscow reviewed grain-security proposals but saw “no possibility of reviving the grain deal,” the Grain Report notes.
Ukraine’s wheat exports to Oct 26 were about 3.5 million tonnes versus 6.18 million a year earlier, per Ukraine’s Ministry of Agrarian Policy. Prairie September deliveries rose 10.8%, Alberta’s harvest reached 94%, and the Bank of Canada’s Oct 28 decision was still ahead.
PGI’s takeaway: Black Sea politics cut the wheat premium while Ukrainian exports lag; Prairie harvest and delivery pace remain the domestic backdrop. Full tables are in the Grain Report.
Sources: Klarenbach Grain Report — https://www.grainreport.klarenbach.ca/p/black-sea-wheat-prairie-deliveries-and-argentina-corn-oct-27-2026. Figures above are as reported in that edition.
Trent Klarenbach, BSA AgEc, PAg
Founder and Lead Analyst, Klarenbach Research