Wheat Futures Climb Over 1%

2026-05-12 04:33 By Czyrill Jean Coloma 1 min. read

Wheat futures climbed more than 1% to near $6.30 per bushel, extending gains for a third consecutive session as persistent dryness across parts of the US Great Plains continues to threaten yields in a breadbasket region.

According to the United States Department of Agriculture, winter wheat conditions deteriorated further, with 28% of the crop now rated good to excellent, down from 31% the previous week and significantly below 54% a year earlier.

Market attention is also focused on the upcoming USDA World Agricultural Supply and Demand Estimates report due Tuesday, which is expected to update projections for wheat production and global supply balances amid persistent drought conditions.

Additional support for wheat prices has come from broader geopolitical uncertainty affecting global trade flows.

Recent developments in US–Iran negotiations have further unsettled markets, as talks failed to produce an agreement and the Strait of Hormuz remains effectively closed.



News Stream
Wheat Futures Climb Over 1%
Wheat futures climbed more than 1% to near $6.30 per bushel, extending gains for a third consecutive session as persistent dryness across parts of the US Great Plains continues to threaten yields in a breadbasket region. According to the United States Department of Agriculture, winter wheat conditions deteriorated further, with 28% of the crop now rated good to excellent, down from 31% the previous week and significantly below 54% a year earlier. Market attention is also focused on the upcoming USDA World Agricultural Supply and Demand Estimates report due Tuesday, which is expected to update projections for wheat production and global supply balances amid persistent drought conditions. Additional support for wheat prices has come from broader geopolitical uncertainty affecting global trade flows. Recent developments in US–Iran negotiations have further unsettled markets, as talks failed to produce an agreement and the Strait of Hormuz remains effectively closed.
2026-05-12
Wheat Futures Rise for 2nd Session
Wheat futures climbed back above $6.1 per bushel, following strength in energy markets after US Iran peace talks failed to produce an agreement. Oil prices gained more than 2% as Washington and Tehran remained divided over a proposed deal, while the Strait of Hormuz continued to operate under severe disruption, keeping global energy supply conditions tight and indirectly supporting grain prices. At the same time, weather conditions in key US wheat growing regions remain a concern. Although some rainfall was recorded recently, it bypassed the driest areas and may not have been sufficient or timely enough to meaningfully improve crop conditions. Forecasts suggest additional rain this week, but expected amounts are limited, and a shift toward warmer temperatures could further stress already vulnerable fields.
2026-05-11
Wheat Futures Fall to 3-Week Low
Wheat futures fell below $6 per bushel, the lowest in three weeks, pressured by lower oil prices and improving US weather forecasts. Crude dropped under $100 per barrel as markets reacted to signs of progress in US-Iran peace talks, easing concerns over supply disruptions tied to the Strait of Hormuz. Forecasts also called for rain across dry US Plains wheat areas, though traders warned some crop damage may already be irreversible. The US Department of Agriculture rated 31% of the US winter wheat crop in good to excellent condition, up from 30% last week but still the weakest for this period since 2023. Weekly US old crop export sales totaled 78,800 tons, below expectations, while Algeria bought roughly 390,000 to 420,000 tons of wheat in an international tender. Russia’s IKAR consultancy also cut its 2025 to 2026 wheat export forecast to 44.5 million tons from 46 million previously.
2026-05-07