Wheat Prices

Wheat prices averaged USD 509 cents per bushel in August, down 6.3% from July. On 29 August, the commodity traded at USD 518 cents per bushel, down 1.0% from 31 July.

In August, supply-side factors drove the steepest price drop since July 2024, with wheat trading further below the level seen over the past five years. Unusually wet weather in Australia recently led the country’s Department of Agriculture to significantly bump its projections for the 2025 harvest, now expected to be the fourth-largest on record. The U.S. Department of Agriculture continued to expect supply to outpace demand in both the U.S. and globally in the 2025/26 marketing year.