Wheat futures eased to below $6 per bushel, down from a three-week high of $6.13 on June 17, as crude oil declined and tanker traffic continued through the Strait of Hormuz amid progress in US–Iran talks, reducing war-risk premiums. Weaker oil also points to cheaper ocean freight, which may further pressure delivered wheat values. Markets are shifting focus back to improving global supply prospects, with the US harvest advancing and favourable crop conditions in Russia and Ukraine offsetting concerns over drought damage to US hard red winter wheat. In Europe, however, a severe heatwave raised concerns over crop quality and yields. Temperatures near 40°C in France and expanding heat across Central Europe have increased worries, particularly for Germany and Poland. Meanwhile, Egypt has purchased 4.7 million tons of wheat and is on track to meet its 5 million-ton target, backing its subsidised bread program.

Wheat fell to 585.41 USd/Bu on June 24, 2026, down 0.23% from the previous day. Over the past month, Wheat's price has fallen 7.88%, but it is still 10.82% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Wheat reached an all time high of 1350 in March of 2022. Wheat - data, forecasts, historical chart - was last updated on June 24 of 2026.

Wheat fell to 585.41 USd/Bu on June 24, 2026, down 0.23% from the previous day. Over the past month, Wheat's price has fallen 7.88%, but it is still 10.82% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Wheat is expected to trade at 607.15 USd/BU by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 657.72 in 12 months time.



Price Day Month Year Date
Soybeans 1,117.81 0.81 0.07% -5.75% 9.03% Jun/24
Wheat 585.66 -1.09 -0.19% -7.84% 10.87% Jun/24
Lumber 624.50 -11.50 -1.81% 6.39% 2.61% Jun/23
Cheese 1.55 -0.0040 -0.26% -4.08% -19.08% Jun/24
Palm Oil 4,647.00 -11.00 -0.24% 3.89% 17.26% Jun/24
Milk 16.01 0.01 0.06% -5.43% -14.25% Jun/23
Cocoa 4,645.00 24.00 0.52% 11.42% -49.40% Jun/23
Cotton 78.11 -0.621 -0.79% 0.96% 15.09% Jun/24
Rubber 224.30 -2.90 -1.28% 1.13% 40.54% Jun/24
Orange Juice 151.75 -3.85 -2.47% -14.31% -33.68% Jun/23
Coffee 277.02 1.07 0.39% 1.10% -12.60% Jun/24
Oat 298.04 -3.9646 -1.31% -19.07% -17.04% Jun/24
Wool 1,989.00 0 0% 5.80% 64.79% Jun/24
Rice 12.90 0.4200 3.37% -0.81% -2.75% Jun/24
Canola 747.46 -1.34 -0.18% 1.53% 7.77% Jun/24
Sugar 13.84 -0.11 -0.76% -4.79% -13.37% Jun/24
Corn 409.82 0.0721 0.02% -10.42% -0.10% Jun/24



Related Last Previous Unit Reference
United States Corn Stocks 9.02 13.28 Billion Bushels Mar 2026
United States Soybean Stocks 2.10 3.29 Billion Bushels Mar 2026
United States Wheat Stocks 1.30 1.68 Billion Bushels Mar 2026

Wheat
Wheat is one of the most important staple crops globally, serving as a key source of food for human consumption and animal feed. Its prices are closely monitored due to their impact on food security, inflation, and global trade flows. Wheat futures are traded on major exchanges, including the Chicago Board of Trade (CBOT), Euronext, Kansas City Board of Trade (KCBT), and the Minneapolis Grain Exchange (MGEX). Standard contracts typically represent 5,000 bushels. On the supply side, China, India, Russia, the United States, France, Australia, and Canada are among the largest producers globally. Russia is the leading exporter, followed by the United States, Canada, France, Ukraine, Australia, and Argentina. Prior to the Russian invasion of Ukraine, Russia and Ukraine together accounted for a significant share of global wheat exports. Wheat prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official benchmark prices. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
Actual Previous Highest Lowest Dates Unit Frequency
585.41 586.75 1350.00 212.50 1977 - 2026 USd/BU Daily

News Stream
Wheat Falls from 3-Week High
Wheat futures eased to below $6 per bushel, down from a three-week high of $6.13 on June 17, as crude oil declined and tanker traffic continued through the Strait of Hormuz amid progress in US–Iran talks, reducing war-risk premiums. Weaker oil also points to cheaper ocean freight, which may further pressure delivered wheat values. Markets are shifting focus back to improving global supply prospects, with the US harvest advancing and favourable crop conditions in Russia and Ukraine offsetting concerns over drought damage to US hard red winter wheat. In Europe, however, a severe heatwave raised concerns over crop quality and yields. Temperatures near 40°C in France and expanding heat across Central Europe have increased worries, particularly for Germany and Poland. Meanwhile, Egypt has purchased 4.7 million tons of wheat and is on track to meet its 5 million-ton target, backing its subsidised bread program.
2026-06-22
Wheat Futures Rebound From Two-Month Lows
Wheat futures climbed to $6.0 per bushel, recovering from a two-month low hit on June 15, as investors tracked Northern Hemisphere harvesting and awaited US planting data due later this month. While crude oil’s three-month lows, following the outline deal to end the US-Israeli war on Iran, have pressured grain markets, traders are assessing whether the price drop could boost demand from importers. Weather conditions have also played a role, with widespread rain and warm temperatures in the central US benefiting crops and reinforcing expectations of ample global supply. The USDA reported that 55% of the nation’s spring wheat is in good-to-excellent condition, up 3 percentage points from last week but below the same period a year ago. Meanwhile, drought-stressed winter wheat ratings, though near historic lows, saw a slight weekly improvement, with harvest progress advancing faster than anticipated.
2026-06-17
Wheat Futures Return to 2-Month Low
Wheat futures fell to around $5.70 per bushel in mid-June, returning to their lowest level since April 10, as the potential reopening of the Strait of Hormuz could improve the availability of key agricultural inputs. The tentative US–Iran peace agreement included the reopening of the strategic waterway, with Iranian Deputy Foreign Minister Kazem Gharibabadi confirming the deal and officials from both sides expected to meet in Switzerland to formalise it. Greater availability of key agricultural inputs in wheat production, such as fertilisers and fuels, allows farmers to produce more efficiently, increasing supply and prompting downward pressure on prices. Meanwhile, the USDA recently cut its winter wheat outlook by 2% from a month earlier, citing drought conditions across the Plains that pushed hard red winter wheat output to its lowest level since 1957. Crop conditions have also weakened further, with just 25% rated good-to-excellent, the lowest level for this time of year on record.
2026-06-15