Wheat Futures Fall from 9-Month High

2026-03-16 15:28 By Agna Gabriel 1 min. read

Wheat futures slipped toward $6 per bushel after reaching a nine-month high of $6.14 on March 13, following a cooling in oil and soybean prices.

Brent crude remains above $100 per barrel but has eased as expectations grow that more tankers may pass through the Strait of Hormuz, where a few vessels have recently resumed transit.

Soybean futures dropped sharply to below $12 per bushel amid uncertainty over US trade talks with China after President Donald Trump said a planned summit with Xi Jinping could be delayed if Beijing does not help reopen the Strait.

The waterway, a key route for global commodity flows, has been largely shut since US Israeli attacks on Iran, disrupting shipments of oil, fuel and fertilizer.

The energy squeeze is raising costs for farmers worldwide.

Meanwhile, the USDA expects global wheat production in 2025/26 to reach a record 842.1 million metric tons, with slightly higher consumption also projected.



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Wheat Futures Fall from 9-Month High
Wheat futures slipped toward $6 per bushel after reaching a nine-month high of $6.14 on March 13, following a cooling in oil and soybean prices. Brent crude remains above $100 per barrel but has eased as expectations grow that more tankers may pass through the Strait of Hormuz, where a few vessels have recently resumed transit. Soybean futures dropped sharply to below $12 per bushel amid uncertainty over US trade talks with China after President Donald Trump said a planned summit with Xi Jinping could be delayed if Beijing does not help reopen the Strait. The waterway, a key route for global commodity flows, has been largely shut since US Israeli attacks on Iran, disrupting shipments of oil, fuel and fertilizer. The energy squeeze is raising costs for farmers worldwide. Meanwhile, the USDA expects global wheat production in 2025/26 to reach a record 842.1 million metric tons, with slightly higher consumption also projected.
2026-03-16
Wheat Hits 17-month High
Wheat increased to 613.25 USd/Bu, the highest since October 2024. Over the past 4 weeks, Wheat gained 11.57%, and in the last 12 months, it increased 9.86%.
2026-03-13
Wheat Stabilizes on Easing Oil Prices
Wheat futures stabilized near $580 per bushel after surging to as high as $635 on March 9th, as oil prices retreated sharply amid easing supply risks and hopes for a swift end to the Iran war. Technical selling also reversed the earlier rally, which was likely fueled by speculative traders positioning for geopolitical developments. The moves followed comments from US President Donald Trump that the US military operation in Iran is nearing its conclusion, alongside plans to keep oil prices in check, easing market concerns about prolonged disruptions to energy supplies. Grain markets often track crude because crops are used in biofuel production, while higher energy prices raise fertilizer, shipping, and other input costs for agricultural goods. Meanwhile, the USDA reported winter wheat ratings fell 22% month-on-month amid limited snow cover and expanding drought across the southern plains, increasing yield risks.
2026-03-10