Wheat futures prices 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.

Wheat fell to 592.30 USd/Bu on April 7, 2026, down 0.50% from the previous day. Over the past month, Wheat's price has fallen 0.95%, but it is still 9.68% higher than a year ago, 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 April 7 of 2026.

Wheat fell to 592.30 USd/Bu on April 7, 2026, down 0.50% from the previous day. Over the past month, Wheat's price has fallen 0.95%, but it is still 9.68% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Wheat is expected to trade at 609.24 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 645.03 in 12 months time.



Price Day Month Year Date
Soybeans 1,168.30 1.55 0.13% -1.03% 17.68% Apr/07
Wheat 591.82 -3.43 -0.58% -1.03% 9.60% Apr/07
Lumber 584.00 -12.50 -2.10% 4.19% 2.16% Apr/06
Cheese 1.70 -0.0131 -0.77% 2.34% -0.59% Apr/07
Palm Oil 4,811.00 -28.00 -0.58% 8.65% 15.04% Apr/06
Milk 17.51 -0.14 -0.79% 6.64% 2.40% Apr/06
Cocoa 3,235.00 -15.25 -0.47% -1.64% -59.39% Apr/06
Cotton 72.02 0.347 0.48% 11.45% 9.75% Apr/07
Rubber 201.50 2.70 1.36% 2.96% 23.54% Apr/06
Orange Juice 200.65 1.19 0.59% 10.98% -5.31% Apr/06
Coffee 298.05 2.07 0.70% 0.39% -12.42% Apr/06
Oat 346.26 -2.4918 -0.71% 3.59% 4.93% Apr/07
Wool 1,786.00 0 0% 1.08% 42.99% Apr/07
Rice 11.08 -0.1500 -1.34% 0.59% -17.99% Apr/07
Canola 728.03 1.43 0.20% 0.22% 12.96% Apr/07
Sugar 14.97 0.01 0.06% 2.60% -19.80% Apr/06
Corn 453.30 -0.7018 -0.15% 3.61% -3.35% Apr/07



Related Last Previous Unit Reference
United States Corn Stocks 9.02 13.28 Billion Bushels Mar 2026
United States Soybean Stocks 2.10 3.29 Billion Bushels Mar 2026
United States Wheat Stocks 1.30 1.68 Billion Bushels Mar 2026

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
592.30 595.25 1350.00 212.50 1977 - 2026 USd/BU Daily

News Stream
Wheat Drops to 2-Week Low
Wheat futures prices 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
Wheat Futures Rebound Toward 9-Month High
Wheat futures rose to $5.98 per bushel, approaching a nine-month high of $6.16 reached on March 31, as renewed geopolitical tensions lifted prices after President Donald Trump warned of further military action against Iran in the coming weeks, dampening hopes for a near term de-escalation. The conflict continues to support grain markets by driving up energy and fertilizer costs, with disruptions through the Strait of Hormuz constraining supplies and raising input prices for farmers globally. At the same time, adverse weather in the US Plains, including unusually warm and dry conditions, is threatening crop yields in a key growing region. Additional support came from weaker than expected US planting data, with wheat acreage estimated at 43.8 million acres, below forecasts, reinforcing concerns about tighter supply.
2026-04-02