Wheat Futures Rise Toward 9-Month High

2026-04-16 14:40 By Agna Gabriel 1 min. read

Wheat futures rose more than 2% to $6.07 per bushel, the highest since a nine-month high of $6.16 hit on March 31, as concerns grew that drought-stressed crops in the US Plains could face frost risks this weekend.

The affected region accounts for nearly a third of US wheat production and a large share of hard red winter wheat.

While earlier forecasts of rain had pressured prices, uncertainty over how much moisture will reach the driest areas and the arrival of colder weather renewed supply concerns.

These concerns have offset pressure from ample global supplies and generally favorable growing conditions elsewhere.

Traders are also watching possible disruptions to fertilizer supply from the Gulf.

Meanwhile, US wheat export sales totaled 231,300 metric tons for the week ended April 9, within expectations, with South Korea among the top buyers.



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Wheat Futures Rise Toward 9-Month High
Wheat futures rose more than 2% to $6.07 per bushel, the highest since a nine-month high of $6.16 hit on March 31, as concerns grew that drought-stressed crops in the US Plains could face frost risks this weekend. The affected region accounts for nearly a third of US wheat production and a large share of hard red winter wheat. While earlier forecasts of rain had pressured prices, uncertainty over how much moisture will reach the driest areas and the arrival of colder weather renewed supply concerns. These concerns have offset pressure from ample global supplies and generally favorable growing conditions elsewhere. Traders are also watching possible disruptions to fertilizer supply from the Gulf. Meanwhile, US wheat export sales totaled 231,300 metric tons for the week ended April 9, within expectations, with South Korea among the top buyers.
2026-04-16
Wheat Futures Rebound from 5-Week Low
Wheat futures rose to $5.87 per bushel, rebounding from a near five-week low of $5.71 on April 10, as higher oil prices lifted concerns over fuel and fertilizer costs following the collapse of US-Iran talks and the risk of a blockade of the Strait of Hormuz. Crude surged roughly 8% to above $100 per barrel as the US Navy prepared potential action that could disrupt Iranian shipments. Elevated input costs are raising fears that farmers may scale back wheat planting, a crop that requires relatively heavy fertilizer use. The USDA recently projected US wheat acreage at the lowest level since records began in 1919, while drought across key growing regions has further pressured outlooks, with just 35% of winter wheat rated good to excellent. Still, wheat futures fell more than 5.5% in the past two weeks on expectations of ample supply.
2026-04-13
Wheat Prices Plunge as USDA Boosts Global Stock Forecast
Wheat futures fell to $5.7 per bushel, marking the lowest level since early March and heading for the sharpest weekly decline since June, after the USDA’s latest WASDE report raised its global stock forecast. The agency now projects world wheat inventories at 283.12 million metric tons for the 2025/26 marketing year, up from 276.96 million tons and exceeding market expectations, driven by stronger harvests in Russia and the EU. The report also noted improving US crop conditions and a generally robust global supply outlook. However, Commerzbank anticipates a price rebound in the coming months, arguing the recent drop may be overdone given downside risks to the new harvest, including fertilizer shortages tied to the Iran conflict.
2026-04-10