Wheat Price OutlookWheat prices have remained more or less stable in recent weeks, likely in part due to the U.S. government shutdown. This caused a lapse of key reports from the United States Department of Agriculture (USDA), depriving the market of important information. With the shutdown now over, early February saw the USDA release a slew of data; the agency revised up its estimates for the U.S. ending stocks and expects the planted area for the U.S. winter wheat harvest to be the second lowest on record. On 8 February, wheat traded at USD 551 cents per bushel, which was 0.4% higher than on the same day in the previous month. Moreover, the price was up 2.8% on a year-to-date basis and was 18.6% higher than on the same day last year. Looking ahead, prices are forecast to moderate from their current level this year amid higher U.S. production. On a global level, production is set to decline in the 2018–2019 season on lower output in Australia, the EU and Russia. At the same time, global demand is set to increase only slightly, with greater food usage partly offset by lower feed usage. Panelists expect prices to average USD 509 cents per bushel in Q4 2019 and USD 529 cents per bushel in Q4 2020.
Wheat Price History Data (USD cents per bushel, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Wheat Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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