IDAHO WHEAT COMMISSION

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Will Supply Cause Wheat Prices to Rally?

In September, wheat futures in Chicago, Kansas, and Minneapolis rallied by nearly $1, driven by strong global demand, unfavorable weather in major growing regions, and ongoing geopolitical tensions in the Black Sea. Looking ahead, wheat prices are expected to remain relatively stable, with moderate fluctuations. Key players in global wheat production—such as China, the European Union, India, and Russia—remain crucial to supply. Idaho’s high-quality wheat is a key player in meeting demand, especially for export markets. With demand consistently surpassing production, the wheat market remains vulnerable to weather issues and geopolitical instability, which could drive prices higher in 2025.