Wheat stalks in field next to dirt road

Wheat Price Outlook

Wheat prices edged up over the last month, partly on the back of concern over severe drought in Australia which was likely behind the USDA’s recent downward revision to its estimate for Australia’s wheat production in 2018/19. Moreover, ongoing concerns over a possible restriction on exports of Russian wheat following a poor harvest have added further upward pressure to prices. On 5 October, wheat traded at USD 502 cents per bushel, which was up 3.1% from the same day last month. Moreover, the price was 16.1% higher on a year-to-date basis and was up 23.5% from the same day last year. Looking ahead, prices are likely to trade at close to their current level. In the 2018/19 season, global production is set to fall due to lower output from Australia, the EU and Russia, which will only be partially compensated by higher U.S. production. At the same time, global demand is set to remain fairly stagnant, with higher food usage largely offsetting lower feed usage.

Wheat Price History Data (USD cents per bushel, aop)

2013  2014  2015  2016  2017  
Wheat699.94  578.22  481.76  431.09  435.91  

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Price forecasts and historical data for Energy, Metals and Agricultural Commodities.

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Wheat Historical Price Chart


Wheat historical price chart
Note: Chicago Board Of Trade (CBOT) Wheat, prices in USD cents per bushel (bu). Daily prices.

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Price forecasts and historical data for Energy, Metals and Agricultural Commodities

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