According to CoinMeta, weak prospects for Russian wheat exports have sparked concerns about global supply, leading to an increase in wheat futures prices. The Russian agricultural consulting agency IKAR has lowered its forecast for Russian wheat exports in the 2026-27 season from 42 million tons to 39.5 million tons, and the main contract for Chicago wheat futures once rose by 0.7%. The agency has also reduced its forecast for total Russian grain exports from 52.8 million tons to 49.5 million tons. Futures International Company noted that there is currently limited remaining capacity for railway transport and Baltic Sea routes, and traditional routes in the Black Sea region are hindered due to political instability. As a result, Russian exporters are turning to railway, Baltic Sea ports, and container transportation. The seasonal closure of inland shipping in mid-November may put further pressure on the railway network, leading to even tighter export capacity and higher logistics costs in winter. Slow export progress from the United States, coupled with competition from other supplying countries, also limits the potential for further increases in wheat prices.