IKAR cut Russia's 2026-27 wheat export forecast to 39.5 mln t from 42.0 mln t and trimmed total grain exports to 49.5 mln t from 52.8 mln t, heightening global supply worries. Black Sea shipping disruptions continue to constrain shipments; Chicago wheat futures briefly rose 0.7%, reversing a two-day decline. Futures International said remaining rail and Baltic shipping capacity is limited, and exporters are shifting to rail, Baltic ports and container shipments as Black Sea routes remain obstruc

IKAR cut Russia's 2026-27 wheat export forecast to 39.5 mln t from 42.0 mln t and trimmed total grain exports to 49.5 mln t from 52.8 mln t, heightening global supply worries. Black Sea shipping disruptions continue to constrain shipments; Chicago wheat futures briefly rose 0.7%, reversing a two-day decline. Futures International said remaining rail and Baltic shipping capacity is limited, and exporters are shifting to rail, Baltic ports and container shipments as Black Sea routes remain obstructed. Seasonal inland-waterway closures around mid-November could further strain rail capacity and lift winter logistics costs. A slow US export pace and competition from other suppliers are capping further price upside.