Wheat Market Outlook - March 24, 2025

According to Mercantile, U.S. wheat remains competitive on the global market on an FOB basis, but the potential of higher charges on Chinese vessels are adding uncertainty, and global demand for wheat remains sluggish. Turkey is reportedly lifting its restrictions on wheat imports, so Mercantile is interested in seeing what they will do. Otherwise, importers are increasingly acting as if they are covered until new crop. Demand for Canadian wheat remains robust, says Mercantile. Wheat should be $8.00-$8.50/bu depending on your location. Mercantile says producers should be sure to take advantage of selling opportunities should they arise.