Chicago wheat futures rebounded to $7.9 from the six-month low of $7.5 touched on August 3rd, after heat waves and soaring domestic prices led India to consider entering global import markets. Still, futures remain well below prices before the start Ukraine’s invasion in late February. Vessels carrying grain out of Ukrainian Black Sea ports returned to activity after a deal between the Ukrainian and Russian delegations allowed safe trade corridors to alleviate the global food crisis. Should trade proceed smoothly, Ukraine will be able to sell over 20 million tonnes of grain reported to be accumulated in port silos since its invasion started on February 24, while also clearing much-needed stockpile space for the coming wheat harvest. Meanwhile, forecasts from the USDA point to the largest decline in global demand in years, as soaring inflation dented demand. In the US, supply, exports, and ending stocks are set to rise.

Historically, Wheat reached an all time high of 1350 in March of 2022. Wheat - data, forecasts, historical chart - was last updated on August of 2022.

Wheat is expected to trade at 803.39 USd/BU by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 889.74 in 12 months time.

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Wheat



Price Day Month Year
Soybeans 1,615.75 1.00 0.06% 6.16% 12.69%
Wheat 780.09 2.75 0.35% -8.92% 9.68%
Lumber 479.20 -20.80 -4.16% -24.54% -13.13%
Cheese 1.97 0.0130 0.66% -9.63% 24.37%
Palm Oil 4,062.00 184.00 4.74% -1.31% -3.29%
Milk 20.02 0.08 0.40% -10.59% 25.05%
Cocoa 2,305.00 -44.00 -1.87% -0.09% -4.63%
Cotton 101.48 -0.20 -0.20% -0.94% 11.15%
Rubber 154.80 2.10 1.38% -3.67% -10.73%
Orange Juice 182.85 3.40 1.89% -0.35% 34.55%
Coffee 209.45 -9.85 -4.49% -5.87% 19.01%
Oat 424.31 1.7500 0.41% -13.63% -9.48%
Wool 1,388.00 0 0% -1.35% -2.80%
Rice 17.25 -0.1250 -0.72% 4.29% 28.79%
Canola 853.90 3.70 0.44% -7.04% -3.21%
Sugar 17.94 0.39 2.22% -0.28% -3.96%
Tea 2.83 0 0% -1.74% -11.29%
Corn 609.06 -2.2500 -0.37% -4.39% 10.69%


Wheat
Wheat Futures are available for trading in The Chicago Board of Trade (CBOT), Euronext, Kansas City Board of Trade (KCBT) and the Minneapolis Grain Exchange (MGEX). The standard contract unit is 5,000 bushels. The biggest wheat producers are China, India, Russia, the US, France, Australia, and Canada. Russia is the biggest exporter of wheat followed by the United States, Canada, France, Ukraine, Australia, and Argentina. Ukraine and Russia accounted for nearly 30% of global wheat exports before the Russian invasion of Ukraine. Wheat prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
780.06 775.75 1350.00 212.50 1977 - 2022 USd/BU Daily