Wheat futures prices rose on Tuesday, driven by data indicating a decline in the quality of the winter wheat crop in the southern United States, in addition to growing concern about disruption to fertilizer supplies from the Gulf region.
A recent survey issued by the US Department of Agriculture, covering the week ending March 15, revealed a deterioration in the classification of wheat crops in the states of Kansas and Oklahoma, as the percentage of crops classified as being in “poor or very poor” condition increased.
Vaisala Exweather also warned that a new drought this week will worsen moisture shortages in key wheat-growing regions.
Denis Voznesensky, an agricultural economist at the Commonwealth Bank of Australia Banking Group, explained that the area of land planted with winter wheat in the United States that is currently suffering from drought is larger compared to the same period in 2025, which may negatively affect the volume of supply and raise prices.
Voznesensky added that the uncertainty surrounding the duration of the war in the Gulf, which led to a major disruption in fertilizer supplies coming from the Gulf countries through the Strait of Hormuz, left farmers around the world confused about when the supply shortage is expected to end.
At 10:15 Moscow time, wheat futures rose 0.80% to $6.02 per bushel (a bushel is equivalent to about 27 kilograms), after recording a 1.7% rise earlier in trading.
