Grain and Oilseed Price Review: Wheat Advances While Markets Monitor Export Trends

The latest global agricultural market review as of Thursday, November 5, 2026, highlights notable developments across grain and oilseed sectors. According to analytical reports, key global exchanges experienced upward momentum in wheat quotations, while the broader market environment continues to react to weekly export data and anticipation of upcoming official crop reports.

Specifically, December soft red winter (SRW) wheat futures at the Chicago Board of Trade (CBOT) settled at $5.99-1/4 per bushel, gaining ¾ of a cent, while March contracts advanced to $6.09-3/4 with a ¼ cent increase. In Kansas City, December hard red winter (KCBT) wheat futures rose by 3 cents to close at $6.35-3/4, and March futures climbed to $6.43 per bushel. In Minneapolis, December hard red spring (MGEX) wheat futures strengthened by 3 ¼ cents to $6.20, and March futures added 4 ½ cents to settle at $6.38-1/2 per bushel.

Market support was further reinforced by the weekly export sales report, which showed total wheat sales reaching 538,028 metric tons. The Philippines emerged as the largest buyer with 119,000 tons purchased, followed by South Korea with 100,000 tons. Additionally, initial export sales for the 2027/28 marketing season were recorded at 19,200 tons, out of which 16,000 tons were sold to Peru.

Market participants are also awaiting the monthly World Agricultural Supply and Demand Estimates (WASDE) report from the USDA, scheduled for release on Tuesday, November 10. According to a preliminary Bloomberg analyst survey, US wheat ending stocks are projected to increase by 4 million bushels to reach 744 million bushels, providing a crucial benchmark for future price direction.

Meanwhile, in the Russian domestic and export sector, the CPT Novorossiysk wheat futures index stood at 9,300 rubles per ton as of November 5, 2026. Russia exported approximately 3.1 to 3.2 million tons of grain in October, with Egypt remaining the primary destination by absorbing about 440,000 tons. Subject to favorable weather conditions, November grain exports from the Russian Federation could potentially increase to 3.5 million tons as traders monitor ongoing developments.