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2026 U.S. Wheat Harvest Hits 150-Year Low, Prices Rise

7/3/2026

38 7 Full Breakdown

Summary

Story summary

USDA says the 2026 wheat harvest will cover about 32 million acres, the lowest in roughly 150 years.
Drought, freezes, record-warm conditions and higher input costs after the Strait of Hormuz closure have cut wheat planting to 42.7 million acres, down 6 percent from 2025 and below forecast.
USDA projects the 2026/27 farm price will rise to $6.50 per bushel, while farmers earned only 11.8 cents of each food dollar in 2024.

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Story summary

USDA says the 2026 wheat harvest will cover about 32 million acres, the lowest in roughly 150 years.
Drought, freezes, record-warm conditions and higher input costs after the Strait of Hormuz closure have cut wheat planting to 42.7 million acres, down 6 percent from 2025 and below forecast.
USDA projects the 2026/27 farm price will rise to $6.50 per bushel, while farmers earned only 11.8 cents of each food dollar in 2024.