Wheat climbed past $6 per bushel to a nearly six-week high, mainly driven tighter US supplies.
The USDA reported lower-than-expected June 1 wheat stocks of 920 million bushels and a reduced annual acreage forecast of 42.740 million acres.
Further boosting prices was strong export demand, with a private sale of 100,000 metric tons of US hard red spring wheat to Nigeria for the 2026/27 marketing year.
Geopolitical tensions also fueled supply anxieties following new US military strikes on Iran, sparked by recent attacks on shipping vessels in the critical Strait of Hormuz.
However, price gains were somewhat capped by a steady US harvest pace.
Additionally, forecasts of robust production across the Black Sea region continue to support expectations of ample global wheat availability.