Wheat Price OutlookPrices for wheat fell over the last month due to uncertainty over Chinese demand prospects due to the coronavirus outbreak. On 14 February, wheat traded at USD 543 cents per bushel, which was 4.5% lower than on the same day in the previous month. Additionally, the price was down 2.9% on a year-to-date basis but was 7.1% higher than on the same day last year. Wheat prices had rallied until late January due to lower year-end stockpile projections from the USDA. Nevertheless, the coronavirus weighed on prices partly by lowering investors’ appetite for commodities, while also raising some concern over China’s ability to meet its wheat import quota outlined in the “phase one” trade deal. Moreover, the USDA in February trimmed its year-end stockpile estimates for 2019–2020 by noticeably less than what markets had expected, reducing previous supply concerns, and in turn, weighing on prices.
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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