03.11.202510:46:39UTC+00Wheat Futures Jump to Highest Since July

Wheat futures have climbed above $5.40 per bushel, reaching their highest point since July 22, driven by anticipated increases in demand from China. Reports over the weekend indicated that a significant Chinese grain importer is investigating the potential purchase of U.S. wheat for delivery from December through February. This development follows the recent easing of trade tensions between the U.S. and China. According to the U.S. Department of Agriculture, China has not imported American wheat since early October last year. While these indicators are positive, the plentiful global supply may limit the extent of price increases. Although the USDA has yet to publish its weekly Crop Progress reports, analysts suggest that U.S. winter wheat planting is 84% complete, which aligns closely with the historical average. Meanwhile, Russian consultancy SovEcon has revised its 2025 wheat production forecast for Russia upwards to 87.8 million metric tons, attributing the increase to record yields in Siberia. In Argentina, wheat production is expected to reach 23 million tons, equaling the nation's record harvest of the 2021–2022 season.