Wheat Prices

Wheat prices averaged USD 590 cents per bushel in June, down 7.9% from May. On 30 June, the commodity traded at USD 581 cents per bushel, down 4.9% from 29 May.

In June, wheat prices eased on the U.S.–Iran ceasefire: Market participants anticipate reduced war-risk premiums and energy prices to lower freight costs. Limited demand from key import markets, including Egypt, Morocco and Turkey, also weighed on prices. That said, on the supply front, adverse weather in Russia and the U.S. Midwest sparked production concerns, likely preventing a sharper price decline.