Skip to content
Subscriber Only

Spring Wheat Surges the Most Since 2010

  • Canada plantings trail analyst estimates, as canola gains
  • Drought conditions worsen in North Dakota and nearby states
Bloomberg business news

Spring Wheat Leading Charge in Agriculture Rebalancing

Prices for spring wheat, the high-protein variety favored for bagels and pizza crusts, are starting to defy gravity.

Futures soared as much as 8.5 percent on Thursday, the most intraday since 2010, after Canada cut its planting outlook and drought conditions expand in U.S. growing states. Prices are up 31 percent in June, beating the gains for 80 other commodities tracked by Bloomberg.