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Speaking at EuroGrainExchange in Bucharest, Peter Clubb, Market Analyst at the International Grains Council (IGC), said global grain markets are entering the new season with comfortable supplies and relatively low prices following record crops in 2025/26.

Black Sea wheat and corn markets are entering the new season with an unusual pricing structure. Although Ukraine and Russia are expected to harvest sizeable crops and carry comfortable stocks into the new marketing year, new-crop prices remain close to old-crop levels.

Volatility is now a defining feature of grain markets, but margin damage is still more often caused by organisational and behavioural failures than by price moves themselves.

Robust global production and elevated stock levels are keeping grain prices under pressure, while weaker income expectations are accelerating farmers’ shift toward oilseeds such as sunflower and soybeans, according to Saban Buttanrı, CEO of Agrolino Grains and Oil Seeds.

Speaking at the IAOM Eurasia Conference & Expo 2025, AgResource CEO Dan Basse painted a bearish picture for global grain markets. Record wheat yields, a massive U.S. corn harvest, and steady soybean output have created an environment of oversupply, while demand growth has stagnated.