Wheat futures rebounded above $5.7 per bushel, reaching the highest in 8 months as renewed weather concerns in the Black Sea region offset the broader weight of ample global supplies. Fresh frost risks across parts of southern Russia and Ukraine have reintroduced a weather risk premium into the market, with traders reassessing potential winter crop damage after earlier US winterkill fears faded. While Russia’s upgraded production outlook of 85.9 million tons from SovEcon and near 91 million tons from IKAR, along with India’s approval of 2.5 million tons in exports and Argentina’s near-record harvest continue to signal comfortable global availability, the market is reacting to uncertainty around crop conditions and export flows. At the same time, currency movements and signs of steady US export demand are providing additional support.

Wheat fell to 570.16 USd/Bu on February 23, 2026, down 0.58% from the previous day. Over the past month, Wheat's price has risen 9.12%, but it is still 1.53% lower 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 February 23 of 2026.

Wheat fell to 570.16 USd/Bu on February 23, 2026, down 0.58% from the previous day. Over the past month, Wheat's price has risen 9.12%, but it is still 1.53% lower 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 568.55 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 531.97 in 12 months time.



Price Day Month Year Date
Soybeans 1,129.66 -7.84 -0.69% 6.40% 9.78% Feb/23
Wheat 569.68 -3.82 -0.67% 9.03% -1.61% Feb/23
Lumber 578.00 10.00 1.76% -5.56% -6.93% Feb/20
Cheese 1.58 -0.0028 -0.18% 12.28% -14.60% Feb/23
Palm Oil 4,123.00 112.00 2.79% 0.68% -11.26% Feb/19
Milk 15.02 -0.05 -0.33% 1.90% -25.72% Feb/20
Cocoa 3,235.50 57.50 1.81% -25.59% -61.26% Feb/23
Cotton 65.55 -0.078 -0.12% 4.10% -1.21% Feb/23
Rubber 194.40 1.70 0.88% 4.63% -5.77% Feb/23
Orange Juice 169.35 -0.60 -0.35% -22.78% -45.41% Feb/23
Coffee 283.70 -2.00 -0.70% -20.37% -27.28% Feb/23
Oat 331.06 1.0631 0.32% 10.63% -6.48% Feb/23
Wool 1,693.00 0 0% 9.86% 42.99% Feb/23
Rice 10.17 0 0% -7.04% -24.40% Feb/23
Canola 685.65 -1.05 -0.15% 5.96% 6.01% Feb/23
Sugar 13.99 0.12 0.88% -5.39% -33.53% Feb/23
Corn 426.09 -1.4144 -0.33% -0.51% -11.69% Feb/23



Related Last Previous Unit Reference
United States Corn Stocks 13.28 1.53 Billion Bushels Dec 2025
United States Soybean Stocks 3.29 0.32 Billion Bushels Dec 2025
United States Wheat Stocks 1.68 2.12 Billion Bushels Dec 2025

Wheat
Wheat Futures are available for trading in The Chicago Board of Trade (CBOT), Euronext, Kansas City Board of Trade (KCBT) and the Minneapolis Grain Exchange (MGEX). The standard contract unit is 5,000 bushels. The biggest wheat producers are China, India, Russia, the US, France, Australia, and Canada. Russia is the biggest exporter of wheat followed by the United States, Canada, France, Ukraine, Australia, and Argentina. Ukraine and Russia accounted for nearly 30% of global wheat exports before the Russian invasion of Ukraine. Wheat prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
570.16 573.50 1350.00 212.50 1977 - 2026 USd/BU Daily

News Stream
Wheat Rebounds on Renewed Supply Risks
Wheat futures rebounded above $5.7 per bushel, reaching the highest in 8 months as renewed weather concerns in the Black Sea region offset the broader weight of ample global supplies. Fresh frost risks across parts of southern Russia and Ukraine have reintroduced a weather risk premium into the market, with traders reassessing potential winter crop damage after earlier US winterkill fears faded. While Russia’s upgraded production outlook of 85.9 million tons from SovEcon and near 91 million tons from IKAR, along with India’s approval of 2.5 million tons in exports and Argentina’s near-record harvest continue to signal comfortable global availability, the market is reacting to uncertainty around crop conditions and export flows. At the same time, currency movements and signs of steady US export demand are providing additional support.
2026-02-18
Wheat Futures Fall from 3-Month High
Wheat futures fell below $5.4 per bushel, pulling back from a three month high near $5.5 on February 12, as improving global supply expectations and cooling weather risks in the United States pressured prices. Higher production forecasts from Russia weighed on the market after Sovecon raised its 2026 harvest outlook to 85.9 million tons and IKAR projected output near 91 million tons, both pointing to ample export availability. Also, India allowed the export of 2.5 million tons of wheat to support farmers following strong harvests, injecting fresh liquidity into the international market just as Argentina moves a record harvest of nearly 28 million tons. Domestically, earlier fears regarding winterkill in the US Plains have largely dissipated as temperatures moderated, allowing traders to unwind risk premiums.
2026-02-17
Wheat at 548.45USd/BU
Wheat futures hovered around $5.5 per bushel on Friday, near the three-month high of $5.525 touched on February 12, as improving supply expectations tempered the earlier rally. Gains initially driven by weather concerns and export optimism faded as tangible increases in global availability came into focus. India’s decision to reopen exports with a 2.5 million-ton allocation, alongside Argentina’s record harvest and strong shipment pace, injected fresh supply into an already well-stocked market. At the same time, USDA revisions lifted US ending stocks to their highest level since the 2019/20 season, while global inventories remain comfortable by recent standards, reinforcing buyers’ leverage. Early February freezes also caused only limited damage to US winter wheat crops, easing fears of a weather-related shortfall and further capping upside momentum.
2026-02-13