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

Welcome back to the Daily Wheat Price Tracker. I’m Vanessa Clark and thank you for tuning in on this Thursday, October sixteenth. If you’re searching for the latest wheat commodity prices and what’s moving the market today, you’re in the right place.

Let’s start with the numbers. Wheat prices were trading at about five hundred two cents per bushel today, edging up a fraction of a percent from where we were yesterday. That uptick comes after several weeks of declines. In fact, wheat has slipped almost five percent this past month and nearly fifteen percent compared to this time last year, making current prices some of the lowest we’ve seen since twenty twenty. If you’re looking at December wheat futures specifically, they hovered just above five dollars per bushel across the major US exchanges this afternoon.

Why the tumble in wheat prices lately? The main driver continues to be global oversupply. Russia, which is one of the world’s wheat powerhouses, has reported record-breaking yields this year, and their production forecast was just raised again. Argentina, another big exporter, is matching its own production records from past years. Meanwhile, France has actually increased its expected wheat exports this season, thanks to stronger demand from the rest of the European Union and some tightening in their ending stocks. With all this extra grain in the global pipeline, buyers are taking their time and not feeling much pressure to lock in purchases.

On the demand side, U.S. exports are running steady but faced with fierce competition abroad, especially as trade tensions continue to play a role. There’s a bit of relief today with some thawing in trade rhetoric, particularly between the U.S. and China, but overall these tensions have made it harder to clear out inventory. Adding to the pressure, U.S. farms are expecting another solid harvest and storage is tight, which is keeping a lid on prices as there’s simply a lot of wheat looking for a home.

For those watching the weather, consistent rainfall in parts of China has disrupted their wheat harvest, but most major wheat-growing regions elsewhere have enjoyed fairly favorable conditions. That’s allowed producers in places like Russia and the U.S. Southern Plains to bring in a healthy crop, although some drier days are ahead for the Southern Plains as we wrap up harvest.

What does this all mean if you’re a grower or trader? It’s a good time to keep a close eye on both your local cash bids and on global supply updates. There may be moments of bargain buying or slight price recovery, like we’ve seen today, but overall, the heavy global stocks are likely to keep wheat prices under pressure until demand can catch up or production expectations change.

That’s your wheat price rundown for October sixteenth. I’m Vanessa Clark and I want to thank you for making the Daily Wheat Price Tracker part of your day. If you found today’s episode helpful, please subscribe wherever you listen to podcasts so you never miss an update. Join me next time for more timely insights into the wheat market. Stay curious, stay connected, and have a wonderful day.

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