Wheat Price OutlookWheat prices increased over the last month on solid demand for U.S. wheat exports. Moreover, recent United States Department of Agriculture (USDA) reports show the progress of the U.S. winter wheat crop is slower than in previous years, potentially adding further upward price pressure. Moreover, the USDA revised down global wheat production excluding China by 1.9 million tons month-on-month, as the drought in Australia continued to lower output. On 30 November, wheat traded at USD 534 cents per bushel, which was up 9.2% from the same day last month. Moreover, the price was 23.6% higher on a year-to-date basis and was up 24.2% from the same day last year. Looking ahead, prices are likely to trade close to current levels. In the 2018–2019 season, global supplies are set to decline on lower production in Australia, the EU and Russia, which will be only partially offset by higher U.S. output. At the same time, demand is set to be fairly flat, with food usage largely counterbalanced by lower feed usage.
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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