Wheat Futures Fall from 9-Month High

2026-04-06 09:54 By Agna Gabriel 1 min. read

Wheat futures fell to $5.91 per bushel, pulling further away from the nine-month high of $6.16 reached on March 31, as weak export demand and softer oil prices weighed on the market.

Brent crude dropped below $108 per barrel amid reports that the US, Iran and regional mediators are discussing a potential 45-day truce, easing concerns over elevated fuel and fertilizer costs that had supported grain prices.

Sluggish demand for US crops also pressured prices, with corn export sales falling to 1.1 million metric tons, down 20% from the recent average, according to the USDA.

Still, losses were limited by ongoing geopolitical risks, as disruptions to fertilizer supplies through the Strait of Hormuz persist and could impact crop yields.

India is seeking to import 2.5 million metric tons of urea to secure supplies ahead of the monsoon planting season, highlighting continued tightness in global fertilizer markets.



News Stream
Wheat Futures Fall from 9-Month High
Wheat futures fell to $5.91 per bushel, pulling further away from the nine-month high of $6.16 reached on March 31, as weak export demand and softer oil prices weighed on the market. Brent crude dropped below $108 per barrel amid reports that the US, Iran and regional mediators are discussing a potential 45-day truce, easing concerns over elevated fuel and fertilizer costs that had supported grain prices. Sluggish demand for US crops also pressured prices, with corn export sales falling to 1.1 million metric tons, down 20% from the recent average, according to the USDA. Still, losses were limited by ongoing geopolitical risks, as disruptions to fertilizer supplies through the Strait of Hormuz persist and could impact crop yields. India is seeking to import 2.5 million metric tons of urea to secure supplies ahead of the monsoon planting season, highlighting continued tightness in global fertilizer markets.
2026-04-06
Wheat Futures Rebound Toward 9-Month High
Wheat futures rose to $5.98 per bushel, approaching a nine-month high of $6.16 reached on March 31, as renewed geopolitical tensions lifted prices after President Donald Trump warned of further military action against Iran in the coming weeks, dampening hopes for a near term de-escalation. The conflict continues to support grain markets by driving up energy and fertilizer costs, with disruptions through the Strait of Hormuz constraining supplies and raising input prices for farmers globally. At the same time, adverse weather in the US Plains, including unusually warm and dry conditions, is threatening crop yields in a key growing region. Additional support came from weaker than expected US planting data, with wheat acreage estimated at 43.8 million acres, below forecasts, reinforcing concerns about tighter supply.
2026-04-02
Wheat Futures Fall from 9-Month High
Wheat futures fell nearly 3% to $5.98 per bushel, easing from a nine-month high of $6.16 on March 31, as improving sentiment around the Middle East conflict reduced pressure on agricultural markets. Optimism that the war could end within weeks, after comments from President Donald Trump, briefly pushed oil below $100 per barrel, easing concerns over high fuel and fertilizer costs that had been supporting grain prices. Earlier gains in wheat were driven by tightening supply expectations, with US planting estimated at 43.8 million acres, below market forecasts, and persistent dryness across the Plains threatening crop yields. In addition, disruptions to fertilizer and energy flows through the Strait of Hormuz had raised input costs globally. With energy markets stabilizing, some of that risk premium is now fading, prompting a pullback in wheat prices despite ongoing weather concerns.
2026-04-01