Chicago wheat prices rose the most since May, and US supply may tighten.

Chicago Mercantile Exchange wheat futures recorded the largest increase since mid-May. After the US Department of Agriculture reported a decrease in planting area, traders assessed the possibility of a tightening supply. The agency estimated on Tuesday that the total wheat planting area in the US was 42.7 million acres, a 6% decrease from 2025. This number was lower than analysts' expectations, and it was the latest negative sign for this crop, which has been plagued by drought and other adverse weather conditions in recent months. Chicago Mercantile Exchange wheat rose by 3.2% on Wednesday at one point, marking the largest increase since May 18th and reaching the highest price in a week. Corn and soybeans also rose.