Wheat ($WHEAT) Commodity Forecast: Down 1.9% Today

What is Wheat?

Wheat is a key commodity in the global market, with its price influenced by various factors such as oil prices, soybean prices, and geopolitical tensions.

Why is Wheat going down?

WHEAT commodity is down 1.9% on Mar 23, 2026 11:15

• Wheat futures fell from a nine-month high due to a cooling in oil and soybean prices, impacting overall market sentiment.
• Uncertainty over US trade talks with China and the potential delay of a summit added to the bearish movement in wheat prices.
• The reopening of the Strait of Hormuz and the expected record global wheat production in the coming years are contributing to the downward pressure on wheat prices.
• The energy squeeze and disruptions in global commodity flows are increasing costs for farmers, further affecting the demand for wheat.

WHEAT Price Chart

WHEAT Technical Analysis

WHEAT News

Wheat Futures Fall from 9-Month High

Wheat futures slipped toward $6 per bushel after reaching a nine-month high of $6.14 on March 13, following a cooling in oil and soybean prices. Brent crude remains above $100 per barrel but has eased as expectations grow that more tankers may pass through the Strait of Hormuz, where a few vessels have recently resumed transit. Soybean futures dropped sharply to below $12 per bushel amid uncertainty over US trade talks with China after President Donald Trump said a planned summit with Xi Jinping could be delayed if Beijing does not help reopen the Strait. The waterway, a key route for global commodity flows, has been largely shut since US Israeli attacks on Iran, disrupting shipments of oil, fuel and fertilizer. The energy squeeze is raising costs for farmers worldwide. Meanwhile, the USDA expects global wheat production in 2025/26 to reach a record 842.1 million metric tons, with slightly higher consumption also projected.

Trending Today

Heating Oil ($HEATOIL) Commodity Forecast: Down 5.1% Today

Amylyx Pharmaceuticals ($AMLX) Stock Forecast: Down 5.1% Today

Check Point Software Technologies Ltd. ($CHKP) Stock Forecast: Down 5.2% Today

Palo Alto Networks Inc. ($PANW) Stock Forecast: Down 5.9% Today

TripAdvisor Inc. ($TRIP) Stock Forecast: Down 5.3% Today

Novavax Inc. ($NVAX) Stock Forecast: Down 5.2% Today

Natera, Inc. ($NTRA) Stock Forecast: Down 7.8% Today

ServiceNow Inc. ($NOW) Stock Forecast: Down 7.4% Today

Jetblue Airways Corporation ($JBLU) Stock Forecast: Down 5.1% Today

Akamai Technologies Inc. ($AKAM) Stock Forecast: Down 17.4% Today

Wheat Price History

12.00.2026 - WHEAT Commodity was down 0.2%

• The recent bearish movement in Wheat can be attributed to profit-taking by traders after the commodity hit a 4-week high at $5.25 per bushel.
• The concerns over dry weather in the US Plains supporting prices might have led to an initial bullish trend, but as traders evaluated the overall market conditions, they decided to take profits, causing the bearish movement.
• The psychological factor of dry conditions impacting crop health, despite being a short-term concern, could have influenced traders to sell off their positions, contributing to the downward movement in Wheat prices today.

10.02.2026 - WHEAT Commodity was down 6.4%

• A 5.8% increase in the price of wheat to 616.55 USd/Bu suggests a bullish market sentiment.
• Factors such as supply chain disruptions, adverse weather conditions impacting crop yields, or rising demand from food manufacturers may have contributed to the surge in wheat prices.
• Investors and traders seem optimistic about the potential profitability of wheat-related investments given these market dynamics.

10.02.2026 - WHEAT Commodity was down 6.2%

• Wheat futures stabilized near $580 per bushel after a recent surge, as oil prices retreated due to easing supply risks and hopes for a resolution to the Iran war. This led to technical selling and a reversal of the earlier rally.
• US President Donald Trump's comments on the conclusion of the US military operation in Iran and plans to stabilize oil prices helped ease market concerns about energy supply disruptions, impacting wheat prices.
• The USDA's report of winter wheat ratings falling due to limited snow cover and expanding drought added to yield risks, contributing to the bearish movement in the wheat market.

21.01.2024 - WHEAT Commodity was up 5.0%

• Wheat prices surged due to a strong bullish movement, despite recent declines to near 3-month lows.
• The market was influenced by ample global supplies, particularly from key players like Russia, which is expected to produce record-high levels of wheat for export.
• Upwardly revised forecasts of global wheat production, driven by increased output in selected Middle Eastern countries, contributed to easing foreign demand and further weighed on prices.
• Lower asking prices from US and European farms, in response to the oversupply and reduced demand, indicate a bearish sentiment in the wheat market despite the temporary bullish movement.

13.04.2024 - WHEAT Commodity was up 5.3%

• Wheat futures surged to a 9-month high of $6.5 per bushel due to concerns over supply disruptions caused by adverse weather conditions in key producing regions like Brazil and Russia.
• Improvements in U.S. winter wheat conditions and cooler temperatures forecasted in Russia helped alleviate some of the supply worries, leading to a slight pullback in prices.
• The upcoming USDA supply-demand report is anticipated to show strong global supply, which could further impact wheat prices in the near term.
• Despite the recent fluctuations, the overall bullish sentiment in the wheat market remains supported by the ongoing supply concerns and the potential impact of weather events on future harvests.

09.04.2024 - WHEAT Commodity was up 5.4%

• Wheat futures surged as concerns over supply disruption due to bad weather in key producing regions like Brazil led to an increase in prices.
• Improved ratings for U.S. winter wheat conditions and cooler temperatures in Russia helped alleviate some worries about supply shortages.
• The latest WASDE report's upward revision of Russian wheat production and increased supply for the European Union, Moldova, and Pakistan contributed to the bullish sentiment in the market.
• Despite profit-taking and some easing of concerns, the overall bullish trend in wheat prices was supported by ongoing global supply challenges and weather-related uncertainties.

13.09.2023 - WHEAT Commodity was up 5.7%

• The bullish movement in wheat today can be attributed to the following factors:
• 1. Tighter supply predictions: Lower supply forecasts for U.S. wheat due to stable or decreased acreage and farmers' disenchantment with the crop after years of drought have led to expectations of reduced U.S. wheat production. This, coupled with the potential disruption of wheat flow from Russia due to poor crop weather or war in Ukraine, has tightened global supplies and increased the vulnerability to shortages.
• 2. Rebound from three-year low: Wheat futures have rebounded from the three-year low touched on September 29th, as markets pared expectations of soaring supply levels. Dryer weather conditions in Argentina and Australia, which are key exporters, are likely to hamper their harvests, providing support to wheat prices.
• 3. Bearish pressure from global consumption forecasts: Despite the rebound, wheat futures remain near levels 28% lower year-to-date. This is due to bearish pressure from revised lower global consumption forecasts, particularly in Southeast Asia, Northern Africa, and Canada, where demand has decreased.
• 4. News of ships successfully arriving in Ukraine: The news of ships successfully arriving in Ukraine through a temporary corridor has lifted hopes that the country may be able to sell grain in the foreign market, which could potentially impact global wheat trade dynamics.
• Overall, the bullish movement in wheat today can be attributed to tighter supply predictions, a rebound from a three-year low, bearish pressure from global consumption forecasts, and positive developments in Ukraine's grain trade.

06.02.2024 - WHEAT Commodity was down 5.2%

• Wheat prices hit multi-month lows due to various factors impacting supply and demand dynamics in the market.
• Increased Russian and Ukrainian exports, along with abundant global stocks and the prospect of another bumper Russian crop, weighed heavily on wheat prices.
• Global wheat production for 2023/24 has seen a slight increase, primarily driven by higher outputs in specific regions, offsetting declines in others.
• The decrease in global wheat ending stocks for 2023/24, reaching the lowest level in 8 years, indicates a shift in market dynamics towards increased consumption and reduced surplus.

06.04.2024 - WHEAT Commodity was up 5.1%

• Wheat futures surged as concerns over supply constraints eased due to favorable weather conditions in major producing regions.
• Reports of improved crop outlooks in the US and Russia, along with increased supply forecasts for key exporting countries, contributed to the bullish sentiment.
• The market reacted positively to the news of ample supply and improved production prospects, driving wheat prices higher despite earlier worries of drought conditions impacting output.

03.04.2024 - WHEAT Commodity was up 5.5%

• The price surge in the wheat market is due to supply worries from key producers like southern Russia and the U.S. Plains. Dry weather conditions have raised concerns about crop yields, prompting investors to cover short positions in wheat.
• The European Commission's reduced forecast for the EU's main wheat crop has added to these supply concerns and boosted wheat prices.
• Despite initial concerns about poor crops being alleviated by favorable weather and higher production forecasts, the ongoing dry spell in crucial growing areas and lowered crop estimates have outweighed these positive factors, propelling wheat prices upwards.
• The bullish movement in the wheat market highlights the delicate balance between supply and demand dynamics, with current supply worries leading to higher prices.

23.03.2024 - WHEAT Commodity was up 5.4%

• Wheat futures surged to a near-2-month high due to concerns over dry weather in the US Wheat Belt and reduced output expectations in Australia, leading to a decrease in supply forecasts and pushing prices higher.
• Despite strong production from the Black Sea region and ample supply globally, the market saw a rise to a 7-week high as reports of record-high exports from Russia and other key growers created a bullish sentiment.
• The commodity approached an over 3-year low recently as US farms faced challenges in pricing competitively against the influx of foreign supply, even though optimistic supply forecasts for major wheat-producing regions were maintained.
• Wheat also hit a 4-week low, reflecting a downward trend in prices over the past month, driven by concerns over excess supply and pricing competition in the global market, despite positive export projections for leading wheat-producing countries.

23.02.2026 - WHEAT Commodity was down 1.9%

• Wheat futures fell from a nine-month high due to a cooling in oil and soybean prices, impacting overall market sentiment.
• Uncertainty over US trade talks with China and the potential delay of a summit added to the bearish movement in wheat prices.
• The reopening of the Strait of Hormuz and the expected record global wheat production in the coming years are contributing to the downward pressure on wheat prices.
• The energy squeeze and disruptions in global commodity flows are increasing costs for farmers, further affecting the demand for wheat.