Wheat prices fall to 9-month low

Published May 12, 2025

Tridge summary

Global wheat futures have reached their lowest level since July 2024, driven by the anticipation of the new harvest and less ominous conditions in the United States and Russia. The Black Sea region is expected to see rainfall, which should mitigate the effects of an early season drought and boost winter wheat growth. Despite the lower prices, the global supply of wheat is expected to remain near the lowest levels in a decade, making the market sensitive to any weather disruptions before the harvest. Meanwhile, soybeans have reached a two-week high due to the recent agreement between the United States and China to reduce tariffs.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Global wheat futures fell to the lowest level since July 2024. According to Dennis Woznesenski, agricultural economist at Commonwealth Bank of Australia, the pressure on prices is due to the approach of the new harvest, Bloomberg reports. He noted that the situation with the harvest in the United States and Russia currently looks less alarming than previously expected.In addition, rains are forecast in the Black Sea region, which should improve soil moisture and contribute to the growth of winter wheat after the early season drought. The U.S. government plans to announce its forecasts of global supply and demand for the 2025/26 season on May 12.According to the average estimate of analysts, USDA is expected to estimate the world stocks at 261.4 mln tonnes, slightly higher than the forecasted 261 mln tonnes by the end of the current season. However, stocks at this level will remain close to the lowest level in the last 10 years. This makes the market vulnerable to any weather ...

Source: UkrAgroConsult