FX.co ★ Wheat Futures Fall from 9-Month High

Wheat futures retreated to $5.85 per bushel from a nine‑month high of $6.14 reached on March 13, as easing tensions in the Middle East pushed oil prices lower. The pullback in crude came after President Donald Trump announced he would delay strikes on Iran following what he described as productive talks.

Softer oil prices tempered concerns over elevated fuel and fertilizer costs, which had stoked fears that farmers might scale back wheat sowings. Even so, weather-related risks remain in focus. Freezing temperatures across parts of the US Plains threaten crops that have already broken dormancy, while persistent dry conditions are adding further stress to fields. Growers caution that yields could ultimately suffer, though it is still too early to gauge the full extent of any damage.

At the same time, official data show US winter wheat plantings are slightly below last season’s levels.