Wheat Prices Surge on US Drought and Planting Uncertainty

2026-03-31 07:58 By Joana Ferreira 1 min. read

Wheat prices reached $6.1 per bushel in late March, nearing their highest level since October 2024, as persistent dryness across the US Plains raised concerns over winter crop yields.

Investors also awaited a critical US planting outlook report, set for release later in the day, which could further influence market sentiment.

Deteriorating conditions in key growing regions, including Kansas, the nation’s top wheat producer, added to the upward pressure.

USDA data showed only 40% of Kansas’ winter wheat was rated in good or excellent condition as of Sunday, down from 46% the prior week and 49% a year ago, as warm, dry weather stressed crops.

Adding to the uncertainty, the ongoing conflict involving Iran is expected to have altered US farmers’ planting plans, potentially pushing spring wheat acreage to its lowest level since 1970.

Rising fertilizer and fuel costs have further dimmed profit expectations, reinforcing the bullish trend in wheat futures.



News Stream
Wheat Futures Hit Over 3-Year Peak
Wheat climbed toward $7.70 per bushel in late August, hitting its highest level since February 2023, as the escalating Russia-Ukraine war fueled concerns over further disruptions to supplies from one of the world’s key grain-producing regions. Russia is set to ramp up attacks on Ukraine, including infrastructure strikes, after concluding that peace talks have reached an impasse. Russia and Ukraine account for more than a quarter of global wheat exports, raising fears of renewed food-price pressures amid elevated energy and transport costs stemming from Middle East conflict. Ukraine’s agricultural exports are already expected to fall by more than half this season from previous estimates, while Russian wheat exports are projected to drop over 50% in August from a year ago. Adding to upward pressure on prices, US wheat export inspections fell to 425,668 metric tons in the week ended August 20, from 514,363 tons a week earlier and well below the 1.05 million tons recorded a year ago.
2026-08-27
Wheat is up by 5.04%
Wheat increased 5.04% to 720.08 USd/Bu
2026-08-26
Wheat Hits 26-month High
Wheat increased to 718.75 USd/Bu, the highest since May 2024. Over the past 4 weeks, Wheat gained 8.62%, and in the last 12 months, it increased 42.73%.
2026-08-26