Wheat Price OutlookWheat prices picked up over the last month on rising concerns that dry, cold weather in the southern Plains is impacting the U.S. winter wheat crop. However, a USDA report released on 8 February appeared to dispel these concerns, leaving U.S. production forecasts unchanged for 2017/18. The report also revised up global wheat supply and usage for the period. On 9 February, wheat traded at USD 457 cents per bushel, which was up 4.3% from the same day last month. The price was 5.8% higher on a year-to-date basis and was up 3.0% from the same day last year. Looking ahead, prices are likely to increase from their current level. Global demand should rise due to greater food and industrial usage. Production is also set to dip in 2017/18 in key players such as the U.S, Argentina and Australia—although it will likely rise mildly overall, boosted by a bumper crop in Russia on good growing conditions and improved productivity.
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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