Wheat Prices

Wheat prices averaged USD 533 cents per bushel in May, down 0.6% from April. On 30 May, the commodity traded at USD 534 cents per bushel, up 4.1% from 30 April.

Wheat prices averaged below April levels in May as the supply outlook remained strong. The U.S. Department of Agriculture projected higher global and U.S. supply in the 2025/26 marketing year than in 2024/25. An influx of cheap Russian grain into global markets further fueled the price drop. That said, a severe hot and dry spell hit China’s grain belt in recent weeks, curbing output and lifting demand from its recent lull.