Wheat Prices

Wheat prices averaged USD 521 cents per bushel in September, up 2.5% from August. On 30 September, the commodity traded at USD 508 cents per bushel, down 1.9% from 29 August.

In September, wheat prices regained some ground from August’s drop as prices for Russian exports spiked on limited supply and rising demand. Still, the commodity traded at levels below those seen in the past year, as the European Commission recently bumped its grain output forecasts for the 2025/26 season and now sees wheat production 19% higher year on year. Moreover, 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.