NewsSignals AI analysis·Trading Economics·Oct 29, 2026

Wheat Recovers from 16-Week Low

Grade Bbullish AI signal

Wheat prices rebounded above $6.05 per bushel after hitting a 16-week low of $5.99, supported by reports that China's state-owned trader Cofco inquired about buying US soft red winter wheat for delivery next year. The inquiry comes amid renewed US-China trade discussions, but no US wheat or corn sales have been recorded so far this marketing year, while record-high global production expectations and larger Australian and Argentine harvests weigh on supply prospects. Further Chinese purchases could support wheat prices, although abundant global supplies and potential improvements in Black Sea grain trade may limit the recovery.

Bullish strength: 60/100

Wheat recovered above $6.05 per bushel from a 16-week low.
Cofco reportedly inquired about purchasing US soft red winter wheat for delivery next year.
Potential US-China tariff reductions could lead to broader agricultural purchases.

Bearish strength: 40/100

Global wheat production is expected to reach its second-highest level on record.
Larger harvests in Australia and Argentina are increasing supply availability.
Hopes for renewed Russia-Ukraine peace talks could improve Black Sea grain trade and weigh on prices.

This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

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