Wheat Futures Hit Over 2-Month Low

2026-06-29 04:07 By Czyrill Jean Coloma 1 min. read

Wheat futures fell below $5.80 per bushel in late June, reaching their lowest level since April 10, as the advancing US winter wheat harvest reinforced expectations of ample supplies.

Hard red winter wheat was 49% harvested, far ahead of 11% a year earlier and the five-year average of 19%, while the soft red winter wheat harvest reached 45%, also outpacing both last year and the five-year average.

Crop conditions across other wheat-producing regions also remained broadly favorable.

However, losses were limited by slower farmer selling during the Northern Hemisphere harvest and concerns over European wheat production following a recent heatwave.

Meanwhile, traders awaited the US Department of Agriculture's quarterly Grain Stocks report due Tuesday.

Traders also monitored the resumption of security talks in the Strait of Hormuz after renewed US-Iran tensions, as the recovery of fertilizer shipments through the strategic waterway could help alleviate concerns over wheat production costs.



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Wheat Futures Hit Over 2-Month Low
Wheat futures fell below $5.80 per bushel in late June, reaching their lowest level since April 10, as the advancing US winter wheat harvest reinforced expectations of ample supplies. Hard red winter wheat was 49% harvested, far ahead of 11% a year earlier and the five-year average of 19%, while the soft red winter wheat harvest reached 45%, also outpacing both last year and the five-year average. Crop conditions across other wheat-producing regions also remained broadly favorable. However, losses were limited by slower farmer selling during the Northern Hemisphere harvest and concerns over European wheat production following a recent heatwave. Meanwhile, traders awaited the US Department of Agriculture's quarterly Grain Stocks report due Tuesday. Traders also monitored the resumption of security talks in the Strait of Hormuz after renewed US-Iran tensions, as the recovery of fertilizer shipments through the strategic waterway could help alleviate concerns over wheat production costs.
2026-06-29
Wheat Falls from 3-Week High
Wheat futures eased to below $6 per bushel, down from a three-week high of $6.13 on June 17, as crude oil declined and tanker traffic continued through the Strait of Hormuz amid progress in US–Iran talks, reducing war-risk premiums. Weaker oil also points to cheaper ocean freight, which may further pressure delivered wheat values. Markets are shifting focus back to improving global supply prospects, with the US harvest advancing and favourable crop conditions in Russia and Ukraine offsetting concerns over drought damage to US hard red winter wheat. In Europe, however, a severe heatwave raised concerns over crop quality and yields. Temperatures near 40°C in France and expanding heat across Central Europe have increased worries, particularly for Germany and Poland. Meanwhile, Egypt has purchased 4.7 million tons of wheat and is on track to meet its 5 million-ton target, backing its subsidised bread program.
2026-06-22
Wheat Futures Rebound From Two-Month Lows
Wheat futures climbed to $6.0 per bushel, recovering from a two-month low hit on June 15, as investors tracked Northern Hemisphere harvesting and awaited US planting data due later this month. While crude oil’s three-month lows, following the outline deal to end the US-Israeli war on Iran, have pressured grain markets, traders are assessing whether the price drop could boost demand from importers. Weather conditions have also played a role, with widespread rain and warm temperatures in the central US benefiting crops and reinforcing expectations of ample global supply. The USDA reported that 55% of the nation’s spring wheat is in good-to-excellent condition, up 3 percentage points from last week but below the same period a year ago. Meanwhile, drought-stressed winter wheat ratings, though near historic lows, saw a slight weekly improvement, with harvest progress advancing faster than anticipated.
2026-06-17