Wheat Prices

Wheat prices averaged USD 549 cents per bushel in February, up 6.0% from January. On 27 February, the commodity traded at USD 591 cents per bushel, up 9.9% from 30 January.

In February, wheat prices rose at the sharpest pace in a year, hitting an 11-month high on average. with price dynamics dominated by supply-side factors. The USDA cut its 2025/26 global supply forecast, with weaker production in Mongolia and Turkey set to outweigh record output in Argentina. The Department also raised its projections for global demand, thereby reducing its forecast for the global supply surplus. Weather concerns in growing regions, especially the U.S. Southern Plains, also supported prices.