Wheat futures traded above $6.1 per bushel, hitting their highest level since March 31, as drought conditions tightened supply expectations while prolonged Middle East tensions heightened broader geopolitical uncertainties. The US Department of Agriculture reported that just 30% of winter wheat was rated good or excellent as of April 19, down from 34% a week earlier and 45% a year ago. Moreover, the National Drought Mitigation Center said 70% of winter wheat areas were affected by drought, up from 50% in late February, while Kansas Wheat warned that limited rainfall during a critical growth period could further curb yields. Wheat futures were also influenced by rising global food inflation risks, driven by higher input costs such as fertilizers and fuel amid escalating Middle East tensions. In a recent development, hopes for a swift resolution to the conflict faded, with both the US and Iran enforcing blockades in the Strait of Hormuz.

Wheat fell to 608.47 USd/Bu on April 24, 2026, down 0.37% from the previous day. Over the past month, Wheat's price has risen 1.79%, and is up 14.81% compared to the same time last year, 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 April 24 of 2026.

Wheat fell to 608.47 USd/Bu on April 24, 2026, down 0.37% from the previous day. Over the past month, Wheat's price has risen 1.79%, and is up 14.81% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Wheat is expected to trade at 603.56 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 641.65 in 12 months time.



Price Day Month Year Date
Soybeans 1,158.35 -1.40 -0.12% -1.14% 10.35% Apr/24
Wheat 608.48 -2.28 -0.37% 1.79% 14.81% Apr/24
Lumber 583.50 0 0% -0.34% 1.21% Apr/23
Cheese 1.68 0.0010 0.06% -1.87% -7.71% Apr/24
Palm Oil 4,579.00 -49.00 -1.06% 2.21% 13.45% Apr/23
Milk 16.85 0.01 0.06% 4.53% -3.55% Apr/23
Cocoa 3,458.00 31.00 0.90% 6.89% -62.83% Apr/23
Cotton 79.17 -0.278 -0.35% 16.12% 19.05% Apr/24
Rubber 205.30 4.10 2.04% 8.45% 23.01% Apr/21
Orange Juice 167.80 -5.45 -3.15% -2.41% -34.01% Apr/23
Coffee 300.35 11.20 3.87% -5.51% -25.92% Apr/23
Oat 320.77 0.2658 0.08% -3.53% -12.06% Apr/24
Wool 1,895.00 0 0% 8.22% 53.81% Apr/24
Rice 11.01 -0.0850 -0.77% 0.28% -14.92% Apr/24
Canola 739.14 -0.06 -0.01% 1.64% 6.03% Apr/24
Sugar 13.89 0.08 0.58% -12.53% -22.54% Apr/23
Corn 455.09 -0.4109 -0.09% -2.60% -4.94% Apr/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
608.47 610.75 1350.00 212.50 1977 - 2026 USd/BU Daily

News Stream
Wheat Futures Trade Near 1-Month High
Wheat futures traded above $6.1 per bushel, hitting their highest level since March 31, as drought conditions tightened supply expectations while prolonged Middle East tensions heightened broader geopolitical uncertainties. The US Department of Agriculture reported that just 30% of winter wheat was rated good or excellent as of April 19, down from 34% a week earlier and 45% a year ago. Moreover, the National Drought Mitigation Center said 70% of winter wheat areas were affected by drought, up from 50% in late February, while Kansas Wheat warned that limited rainfall during a critical growth period could further curb yields. Wheat futures were also influenced by rising global food inflation risks, driven by higher input costs such as fertilizers and fuel amid escalating Middle East tensions. In a recent development, hopes for a swift resolution to the conflict faded, with both the US and Iran enforcing blockades in the Strait of Hormuz.
2026-04-24
Wheat Futures Approach 9-Month High
Wheat futures climbed to around $6.0 per bushel, the highest since the nine-month peak of $6.16 reached on March 31, as ongoing weather risks and fertilizer supply disruptions linked to the Iran conflict raised concerns over global output. Drought conditions are expected to persist across the US Great Plains, especially in key hard red winter wheat areas, while dry weather in parts of the Black Sea region and Europe continues to pressure crop prospects. In Australia, limited access to inputs and ongoing dryness are likely to reduce planting to multi-year lows, adding concern for a major exporter. Fertilizer supply constraints tied to tensions between the US and Iran are also supporting prices, with the Strait of Hormuz largely restricted. Although overall global supply remains relatively ample, risks from Australia and Argentina are seen as potential upside drivers. Meanwhile, US wheat export sales for the week ended April 9 came in at 231,300 metric tons, in line with expectations.
2026-04-20
Wheat Rallies on Weather, Fertilizer Concerns
Wheat futures held around $6 per bushel, near a fourteen-month high and on track for a roughly 5% weekly gain, the strongest rise in nearly two months as persistent weather risks and fertilizer shortages tied to the Iran conflict fueled supply concerns. Drought is expected to linger across the US Great Plains, particularly in hard red winter wheat regions, while dry conditions in parts of the Black Sea and Europe continue to weigh on crop prospects. In Australia, limited farm inputs and ongoing dryness are set to push planting acreage to multi-year lows, raising concerns for a key global exporter. Fertilizer supply disruptions due to tensions involving the US and Iran, are further supporting prices, especially with the Strait of Hormuz still largely closed. While ample global supplies may limit gains, risks to output in Australia and Argentina could provide additional upside. Meanwhile, US wheat export sales totaled 231,300 metric tons for the week ended April 9, within expectations.
2026-04-17