Wheat futures climbed to around $5.90 per bushel in late March, as farmers scaled back plantings amid growing concerns over fertilizer supplies. In Australia, one of the world’s largest wheat exporters, growers are cutting back on acreage as the availability and cost of key crop nutrients become increasingly uncertain amid the prolonged Middle East war. The situation has been exacerbated by stalled shipments through the Strait of Hormuz, a critical route for global fertilizer exports, which has driven prices higher and limited access for farmers worldwide. Many producers now face the dual challenge of navigating rising input costs while contending with historically weak wheat prices and ample global inventories, pressures that predated the current geopolitical crisis but are now intensified by it.

Wheat rose to 605.06 USd/Bu on March 26, 2026, up 1.22% from the previous day. Over the past month, Wheat's price has risen 2.34%, and is up 13.73% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Wheat reached an all time high of 1350 in March of 2022. Wheat - data, forecasts, historical chart - was last updated on March 26 of 2026.

Wheat rose to 605.06 USd/Bu on March 26, 2026, up 1.22% from the previous day. Over the past month, Wheat's price has risen 2.34%, and is up 13.73% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Wheat is expected to trade at 598.63 USd/BU by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 644.99 in 12 months time.



Price Day Month Year Date
Soybeans 1,170.80 -0.75 -0.06% 1.17% 15.15% Mar/26
Wheat 605.06 7.50 1.25% 2.34% 13.73% Mar/26
Lumber 596.02 -1.48 -0.25% 6.81% -12.04% Mar/26
Cheese 1.68 -0.0289 -1.69% -0.17% -1.29% Mar/26
Palm Oil 4,484.00 4.00 0.09% 10.83% 5.28% Mar/25
Milk 16.15 0.03 0.19% 8.10% -13.45% Mar/26
Cocoa 3,162.00 29.00 0.93% 9.49% -60.12% Mar/26
Cotton 69.44 1.260 1.85% 5.84% 3.64% Mar/26
Rubber 196.80 3.20 1.65% -3.77% -1.60% Mar/26
Orange Juice 177.31 -5.24 -2.87% -2.31% -28.36% Mar/26
Coffee 307.11 -8.99 -2.84% 9.39% -18.97% Mar/26
Oat 337.98 8.2500 2.48% 7.21% -5.33% Mar/26
Wool 1,724.00 -27.00 -1.54% 0.47% 37.92% Mar/26
Rice 10.96 -0.0050 -0.05% 5.43% -18.61% Mar/26
Canola 728.03 0.83 0.11% 5.86% 21.25% Mar/26
Sugar 15.84 0.29 1.87% 14.04% -16.97% Mar/26
Corn 466.02 -1.2330 -0.26% 6.21% 3.56% Mar/26



Related Last Previous Unit Reference
United States Corn Stocks 13.28 1.53 Billion Bushels Dec 2025
United States Soybean Stocks 3.29 0.32 Billion Bushels Dec 2025
United States Wheat Stocks 1.68 2.12 Billion Bushels Dec 2025

Wheat
Wheat Futures are available for trading in The Chicago Board of Trade (CBOT), Euronext, Kansas City Board of Trade (KCBT) and the Minneapolis Grain Exchange (MGEX). The standard contract unit is 5,000 bushels. The biggest wheat producers are China, India, Russia, the US, France, Australia, and Canada. Russia is the biggest exporter of wheat followed by the United States, Canada, France, Ukraine, Australia, and Argentina. Ukraine and Russia accounted for nearly 30% of global wheat exports before the Russian invasion of Ukraine. Wheat prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
605.06 597.75 1350.00 212.50 1977 - 2026 USd/BU Daily

News Stream
Wheat Rises on Supply Risks
Wheat futures climbed to around $5.90 per bushel in late March, as farmers scaled back plantings amid growing concerns over fertilizer supplies. In Australia, one of the world’s largest wheat exporters, growers are cutting back on acreage as the availability and cost of key crop nutrients become increasingly uncertain amid the prolonged Middle East war. The situation has been exacerbated by stalled shipments through the Strait of Hormuz, a critical route for global fertilizer exports, which has driven prices higher and limited access for farmers worldwide. Many producers now face the dual challenge of navigating rising input costs while contending with historically weak wheat prices and ample global inventories, pressures that predated the current geopolitical crisis but are now intensified by it.
2026-03-24
Wheat Futures Fall from 9-Month High
Wheat futures fell to $5.85 per bushel from a nine-month high of $6.14 on March 13, as easing tensions in the Middle East pushed oil prices lower after President Donald Trump said he would delay strikes on Iran following productive talks. Lower oil prices reduced concerns about high fuel and fertilizer costs, which had raised fears that farmers might cut back on wheat planting. However, weather risks remain a concern, with freezing temperatures in parts of the US Plains potentially damaging crops that had already started growing. Dry conditions have also added stress to fields, and farmers warn yields could be affected, although it is still too early to know the full impact. Meanwhile, US winter wheat planting was slightly lower than last season, according to official data.
2026-03-23
Wheat Futures Fall from 9-Month High
Wheat futures slipped toward $6 per bushel after reaching a nine-month high of $6.14 on March 13, following a cooling in oil and soybean prices. Brent crude remains above $100 per barrel but has eased as expectations grow that more tankers may pass through the Strait of Hormuz, where a few vessels have recently resumed transit. Soybean futures dropped sharply to below $12 per bushel amid uncertainty over US trade talks with China after President Donald Trump said a planned summit with Xi Jinping could be delayed if Beijing does not help reopen the Strait. The waterway, a key route for global commodity flows, has been largely shut since US Israeli attacks on Iran, disrupting shipments of oil, fuel and fertilizer. The energy squeeze is raising costs for farmers worldwide. Meanwhile, the USDA expects global wheat production in 2025/26 to reach a record 842.1 million metric tons, with slightly higher consumption also projected.
2026-03-16