Wheat futures fell to around $5.30 per bushel, driven by concerns that new U.S. tariffs could trigger retaliatory actions against American agricultural products. President Donald Trump announced a 10% baseline tariff on all U.S. imports, along with higher duties on key trading partners, including an additional 34% levy on Chinese imports. In response, China—already imposing tariffs on $21 billion worth of U.S. agricultural goods—warned of further duties unless Washington reverses its trade measures. On the supply side, the USDA’s March Prospective Plantings report forecasted a 2% decline in U.S. wheat acreage this year to 45.35 million acres, slightly below market expectations of 46.50 million. If realized, this would represent the second-lowest all-wheat planted area since 1919. Wheat stocks as of March 1 totaled 1.24 billion bushels, up 14% from last year and slightly exceeding the consensus estimate of 1.22 billion.
Wheat decreased 25.27 USd/BU or 4.58% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Wheat reached an all time high of 1350 in March of 2022. Wheat - data, forecasts, historical chart - was last updated on April 4 of 2025.
Wheat decreased 25.27 USd/BU or 4.58% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Wheat is expected to trade at 505.30 USd/BU by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 483.10 in 12 months time.