Wheat prices averaged USD 543 cents per bushel in June, up 1.8% from May. On 30 June, the commodity traded at USD 529 cents per bushel, down 1.0% from 30 May.
Average wheat prices rose for the first time in four months in June on a weakening supply outlook: Australia is expecting a 10% decline in its harvest; Argentina is lagging behind with its sowing; and Canada is facing a drought and a low harvest. Additionally, Russia declared a state of agricultural emergency in mid-June due to a severe drought, and on 6 June the EU reinstated duties and quotas on Ukrainian agricultural products—which had been suspended since 2022—adding further upside pressure to prices.
This chart displays Wheat (US¢/bu) from 2023 to 2025.
Wheat CBOT (prices in US¢/bu, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Wheat CBOT | - | - | 627 | 585 | 578 | 611 | 551 | 562 |