Wheat futures showed signs of renewed strength on Friday, climbing to $5.05 per bushel as markets responded positively to high-level diplomatic talks and supportive fundamental data from the USDA.
CHICAGO – The wheat market found a solid footing on Friday, with futures edging higher in a welcome rebound for traders. The price increase was supported by two significant developments: the potential for geopolitical stabilization in a key grain-producing region and a new U.S. government forecast indicating tighter domestic supplies.
A major source of market optimism came from the high-stakes meeting in Alaska between U.S. President Donald Trump and Russian President Vladimir Putin. With discussions focused on a potential ceasefire deal for Ukraine, traders are hopeful for a de-escalation of conflict in a region critical to global grain exports. The prospect of increased stability is being viewed as a constructive development for agricultural markets.
Adding to the positive momentum, the United States Department of Agriculture (USDA) released projections for the 2025/26 season that point to a tighter U.S. wheat supply. The agency’s forecast shows domestic production down by 2 million bushels, providing a strong fundamental basis for the price recovery.
While the market is still navigating abundant harvests from other parts of the Northern Hemisphere, Friday’s price action demonstrates that key diplomatic and supply-side factors are providing a firm and encouraging level of support. This has injected a fresh wave of confidence into the market, suggesting a potential shift away from the recent four-month lows.
