Northern Plains Wheat Dominates US Grain Price Spreads

The latest USDA grain price-spread report shows that Northern Plains wheat is leading the way in terms of positive margins. The week ended July 31, 2026, saw the widest spread on Hard Red Winter Wheat moving from Montana to the Texas Gulf at 3.01 dollars per bushel.

This means that buyers are willing to pay more for this commodity at its destination than what farmers and suppliers were asking for it in the Northern Plains region. The same trend is observed with other wheat varieties, such as Hard Red Spring Wheat from Montana to the Louisiana Gulf and North Dakota to the Louisiana Gulf.

On the other hand, negative spreads were concentrated in the eastern and Great Lakes regions. For example, Illinois and Ohio to the Atlantic Coast Soybeans showed negative spreads of -0.03 each, while Indiana to the Great Lakes (Toledo) Corn posted a spread of -0.17.