Chicago wheat futures fell further to $11.5 per bushel in late May, the lowest in two weeks, as supply concerns momentarily eased. North American producers are expected to divert farming capacity from corn to wheat after a deal to increase trade between China and Brazil pushed down corn prices. Expectations of lower demand amid recession fears also brought down wheat futures, which hit a 14-year high last week as the war in Ukraine threatens global food security. Ukraine’s wheat production is expected to fall by 35% this marketing year to 21.5 million tons due to direct destruction or logistical problems from the war, while halted maritime trade from ports prevents a large portion of remaining crops to be exported. Also, the Indian government announced an embargo on wheat exports to guarantee domestic food security, as surging prices would have incentivized traders to sell wheat to the private export market instead of government food welfare programs.

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

Wheat is expected to trade at 1206.27 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 1326.18 in 12 months time.

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Price Day Month Year
Soybeans 1,693.00 6.00 0.36% 1.06% 11.99%
Wheat 1,154.75 -35.25 -2.96% 7.67% 75.89%
Lumber 662.30 10.40 1.60% -34.75% -52.59%
Cheese 2.41 -0.0010 -0.04% 5.74% 32.75%
Palm Oil 6,482.00 221.00 3.53% 4.06% 61.08%
Milk 25.08 -0.01 -0.04% 3.13% 32.28%
Cocoa 2,441.00 -10.00 -0.41% 0.37% 2.56%
Cotton 141.54 -1.21 -0.85% 2.08% 71.13%
Rubber 242.50 -2.70 -1.10% -3.39% -6.59%
Orange Juice 178.00 1.40 0.79% 2.48% 52.79%
Coffee 213.75 -2.00 -0.93% -3.37% 42.03%
Oat 674.25 44.5000 7.07% -5.60% 86.90%
Wool 1,434.00 0 0% 4.90% 9.05%
Rice 17.17 -0.1050 -0.61% 3.00% 30.04%
Canola 1,184.10 12.80 1.09% -0.05% 34.86%
Sugar 19.76 -0.01 -0.05% 4.27% 15.96%
Tea 2.69 0 0% -4.61% -10.93%
Corn 770.00 -16.2500 -2.07% -3.51% 24.14%

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
1154.75 1190.00 1350.00 212.50 1977 - 2022 USd/BU Daily