# War with Iran and dry weather in the US are pushing up US wheat prices, but they are limited by significant supply

> US wheat futures rose 2.9% to 3.6% last week as dry weather worsened winter wheat conditions and the Iran war raised fertilizer costs. Forecast rains limited gains, and analysts expected USDA acreage to fall 544,000 acres to 44.79 million.

- Date: 2026-03-31 · published 2026-03-31T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/20213-war-with-iran-and-dry-weather-in-the-us-are-pushing-up-us-wheat-prices-but-they
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Drought and input cost pressure support wheat prices, while rains and ample global supply cap the rally and limit export pull.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| UREA | 2026-05-31 | [Wheat Futures Prices Have Surged 30% This Year As Iran War Hit Fertilizer Supplies and U.S. Drought Sent Output To A 54-Year Low](https://feedsoft.ai/events/19292-wheat-futures-prices-have-surged-30-this-year-as-iran-war-hit-fertilizer.md) | -21.5% | -30.2% |
| UREA | 2021-09-03 | [US Nola urea barges hit 9 year high with supply tightening post Hurricane Ida](https://feedsoft.ai/events/5165-us-nola-urea-barges-hit-9-year-high-with-supply-tightening-post-hurricane-ida.md) | +8.6% | +43.5% |
| UREA | 2021-02-19 | [US Gulf urea values recover as gas diversions and production cutbacks bring producers to the market; activity elsewhere limited](https://feedsoft.ai/events/48941-us-gulf-urea-values-recover-as-gas-diversions-and-production-cutbacks-bring.md) | +1.5% | +11.7% |
| UREA | 2026-01-21 | [Natural Gas Prices Soar as Winter Storm Is Set to Drop Snow, Ice Across Massive Swath of the US - Bloomberg](https://feedsoft.ai/events/4409-natural-gas-prices-soar-as-winter-storm-is-set-to-drop-snow-ice-across-massive.md) | +1.6% | +13.7% |
| UREA | 2025-02-23 | [US natural gas prices surge as La Niña replaces El Niño – Chemicals and the Economy](https://feedsoft.ai/events/26221-us-natural-gas-prices-surge-as-la-nina-replaces-el-nino-chemicals-and-the.md) | -0.3% | -4.4% |
| KWHEAT | 2018-05-29 | [Wheat prices are rising because of the hot and dry weather](https://feedsoft.ai/events/65065-wheat-prices-are-rising-because-of-the-hot-and-dry-weather.md) | -7.5% | -16.7% |
| KWHEAT | 2026-05-31 | [Wheat Futures Prices Have Surged 30% This Year As Iran War Hit Fertilizer Supplies and U.S. Drought Sent Output To A 54-Year Low](https://feedsoft.ai/events/19292-wheat-futures-prices-have-surged-30-this-year-as-iran-war-hit-fertilizer.md) | -4.5% | -7.7% |
| KWHEAT | 2019-05-15 | [The price of wheat in the United States and Europe has increased dramatically](https://feedsoft.ai/events/12091-the-price-of-wheat-in-the-united-states-and-europe-has-increased-dramatically.md) | +8.5% | +15.2% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/war-with-iran-and-dry-weather-in-the-us-are-pushing-up-us-wheat-prices-but-they-are-limited-by-significant-supply/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.