Wheat Market Outlook – September 15, 2025

Sep 16, 2025

Western Canadian Markets Highlights / Key Events

See the attached Global Wheat Fundamental page in the report where you can see all the latest fundamental supply and disposition estimates for global wheat key markets.

WHEAT FUTURES

Minneapolis Spring Wheat

Futures sit at $5.71 per bushel on the U.S. based contract, down $0.05 per bushel for the past week. The contract low was set on Sept. 5, 2025, at $5.65 per bushel and the one month high of $5.98 per bushel was set on Aug. 20, 2025.

Kansas City Wheat

Is down $0.01 per bushel at the time of writing for the trading session and sits at $5.14 per bushel. KC wheat is still holding onto a $0.02 weekly loss position.

Chicago Wheat

Chicago wheat sits at $5.25 per bushel, which is up $0.01 for the past five trading days. Its contract low was set on Sept. 11, 2025, at $5.12 per bushel.

European Wheat

MATIF wheat futures sit at 191 per tonne. This is unchanged week-over-week since last Monday. Contract lows were set on Sept. 4, 2025, at 188 euro per tonne.

Global Wheat Market Notable Items

USDA WASDE REPORT HIGHLIGHTS

The USDA added tonnage to the global wheat supply and disposition carryout released on Friday. The USDA is now estimating wheat ending stocks globally at 264.1 million tonnes. This is a bump from the estimate in August of 260.1 mmt. 262.4 mmt was the figure released last year.
The USDA added 9.3 mmt in production to the global wheat balance sheet from the August report and bumped consumption higher as well from 809.5 mmt to 814.6 mmt from the August report.

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Video: Supplemental Nitrogen on Soybeans: Can Early Nitrogen Increase Yield?

Can supplemental nitrogen help soybeans reach higher yield potential? Technical Agronomist Tim Sickman walks through an ongoing trial at the Nutrien Innovation Farm in Owensboro, Kentucky, exploring whether a modest amount of nitrogen applied at planting can support higher-yielding soybean environments.

The trial compares 30 pounds of supplemental nitrogen across both 15- and 30-inch rows, along with treatments that include sulfur and micronutrients. Similar trials conducted in 2024 and 2025 delivered a six- to seven-bushel yield response, prompting the team to expand the research this season.

Early observations show that treated soybeans are slightly taller and averaging about two additional nodes on the main stem. These added nodes could create more opportunities for blooms and pods, but the true results will come at harvest when the team evaluates pod development, seed fill and final yield.

In This Video:

Why high-yield soybeans may need supplemental nitrogen

Results from the 2024 and 2025 trials

Nitrogen treatments in 15- and 30-inch rows

Fertilizer placement and application methods

Differences in plant height and node counts

Potential effects on pod development and yield