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Class 4 wheat in Kazakhstan now costs more than class 3 wheat
Class 4 wheat was offered at 102,000 tenge per tonne on the Eurasian Trading System exchange. That is more than class 3 wheat. Global wheat prices fell over the week.
On 2 November, class 4 wheat with 20% gluten was offered at 102,000 tenge per tonne on the Eurasian Trading System exchange. At the same time, class 3 wheat with 25–26% gluten was offered at 99,000 tenge (both prices including VAT, EXW). A month earlier, class 4 wheat cost 88,000 tenge per tonne.
The reason is that drought and heat produced a very high-quality harvest this season. There is little lower-class grain on the market, and producers of feed flour want to buy it.
Global prices are falling. Over the week, wheat on the US exchange fell by more than 2% to $5.9 per bushel ($216 per tonne). European wheat also became cheaper. The market expects the Iran conflict to de-escalate and hopes that Russia and Ukraine will resume talks.
Russia is increasing exports through alternative routes. SovEcon estimates that Russia shipped 2.9 million tonnes of wheat in October, compared with 2.1 million tonnes in August. That is still well below October 2025, when exports totalled 5.4 million tonnes.
This is a short summary by the AgroLab editorial team. See the original for the full text, figures and quotes.
