Wheat Price OutlookWheat prices have been fairly flat over the last month. In mid-October, the United States Department of Agriculture revised down its forecast for global production in 2018–19 on lower Australian and Russian output, with the Australian wheat crop affected by dry weather. This provided some temporary support for prices. However, wheat prices dipped later in the month on reports of strong progress on planting of the winter wheat crop. On 2 November, wheat traded at USD 501 cents per bushel, which was 0.2% higher than on the same day last month. Moreover, the price was up 15.9% on a year-to-date basis and was up 15.2% 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 likely only be partially compensated by higher U.S. production. At the same time, global demand is set to remain relatively stable, with higher food usage largely offset 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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