Wheat Futures Hit One-Month Low

2026-04-08 01:00 By Czyrill Jean Coloma 1 min. read

Wheat futures dropped 2.8% to $5.80 per bushel in early April, hitting its lowest level since March 5th, following US President Trump's announcement of a two-week ceasefire with Iran.

The deal came after he threatened to destroy Iranian energy and transportation infrastructure.

Meanwhile, Iran agreed to temporarily reopen the Strait of Hormuz, a crucial oil shipping route.

The agreement was reached just before Trump's 8 p.m.

ET deadline, with US-Iran talks scheduled for Friday in Islamabad.

The decline in wheat prices was also influenced by forecasts of rainfall in the drought-hit US Plains, which could improve winter wheat yields.

Meteorologists expect beneficial rain in the eastern two-thirds of the wheat belt over the next ten days, although the far western third may miss out.

The USDA's first 2026 winter wheat report revealed that only 35% of the crop was rated as good to excellent, the lowest for this time of year since 2023 and well below the 48% recorded in 2025.



News Stream
Wheat Futures Hit One-Month Low
Wheat futures dropped 2.8% to $5.80 per bushel in early April, hitting its lowest level since March 5th, following US President Trump's announcement of a two-week ceasefire with Iran. The deal came after he threatened to destroy Iranian energy and transportation infrastructure. Meanwhile, Iran agreed to temporarily reopen the Strait of Hormuz, a crucial oil shipping route. The agreement was reached just before Trump's 8 p.m. ET deadline, with US-Iran talks scheduled for Friday in Islamabad. The decline in wheat prices was also influenced by forecasts of rainfall in the drought-hit US Plains, which could improve winter wheat yields. Meteorologists expect beneficial rain in the eastern two-thirds of the wheat belt over the next ten days, although the far western third may miss out. The USDA's first 2026 winter wheat report revealed that only 35% of the crop was rated as good to excellent, the lowest for this time of year since 2023 and well below the 48% recorded in 2025.
2026-04-08
Wheat Drops to 2-Week Low
Wheat futures fell below $5.95 per bushel, marking a two-week low as forecasted rainfall across the United States Plains is expected to alleviate severe drought conditions in key growing regions like Kansas. This downward pressure persists despite ongoing geopolitical turmoil in the Middle East where the rejection of a ceasefire and threats to energy infrastructure have pushed fuel and fertilizer costs higher. While speculative investment funds recently adopted a bullish stance on Chicago wheat for the first time in nearly four years because of global supply risks, the immediate prospect of improved soil moisture has weighed on the market. Agriculture officials estimate that total United States wheat acreage will drop to its lowest level since 1919 as farmers finalize spring planting plans under the shadow of a virtual shutdown in the Strait of Hormuz. Market participants now await federal crop condition ratings and upcoming supply reports.
2026-04-06
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