Wheat Prices man

Wheat prices averaged USD 676 cents per bushel in August, up 4.2% from July. On 31 August, the commodity traded at USD 757 cents per bushel, up 18.3% from 31 July.

In August, wheat traded at the highest average level since July 2023 due to persistent supply chain shocks amid intensified attacks between Russia and Ukraine. Markets priced in transport risk, port restrictions in the Black and Azov Seas and potential long-term export disruptions, with exports from both countries in August estimated to be sharply lower than year-ago levels. The supply panorama was also weakened by drought in the Northern hemisphere, particularly in the southern U.S. plains.