Global wheat prices surge on crop woes, tight supply view, says Commerzbank
This story was originally published at 18:15 IST on 27 February 2026
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NEW DELHI – Global wheat prices have surged to multi-month highs due to concerns about weather in key producing regions and a tighter supply outlook, Commerzbank said in a report. At 1738 IST, the most-active May wheat futures contract on the Chicago Board of Trade was up 1.7% at $5.84 per bushel, after touching an eight-month high of $5.85 per bushel. At the start of the year, wheat prices were hovering a little over $5.00 per bushel.
In Europe, wheat futures on Euronext nearly touched the 200 euro-per-tonne mark again, a level last surpassed in July 2025. Wheat prices rose as drought conditions and wildfires in parts of the US Midwest raised concerns over crop prospects. French crop monitoring agency FranceAgriMer said the condition of winter wheat deteriorated slightly in mid-February, though it remains better than last year.
The International Grains Council said the global wheat balance in 2026-27 could tighten as output is expected to decline while consumption continues to rise. Moreover, the US Department of Agriculture sees US wheat production lower by 6% on year at 1.86 billion bushels in the upcoming season due to a smaller harvested area and lower yields.
"However, there are still several months to go before the harvest, so there are likely to be a number of changes to the forecasts," Commerzbank said.
Recently, India opened up export of wheat and allowed 2.5 million tonnes to be shipped out of the country. India had curbed wheat exports in May 2022. Rising global prices could bring export parity for Indian wheat. End
US$1 = INR 90.97
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Afra Abubacker
Edited by Ashish Shirke
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