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“So far, the U.S. has just been a bystander as limited supplies from Black Sea region are getting distributed to other global exporters. Wheat offers from ports in Romania and Bulgaria jumped to three-year highs as Russian drone attacks have damaged or sunk vessels in their coastal waters. Russia claims that they can fully cover Egypt’s demand for grain despite the blockage of the Black Sea supply routes. SovEcon is forecasting Russian wheat exports in October at 2.5 mmt, down from 2.6 mmt in September while well below the 5.4 mmt in October 2025. U.S. WW acres in drought held steady at 53%, while spring wheat acres in drought fell 1% to 38%,” Soderberg said.
