Wheat Price OutlookPrices for wheat decreased over the last month due to relatively solid global supply levels and as prices likely ran ahead of its fundamentals in early April. On 15 May, wheat traded at USD 500 cents per bushel, which was down 7.4% from the same day in the previous month. Moreover, the price was 10.5% lower on a year-to-date basis but was up 11.5% from the same day last year. Wheat prices decreased in late April as stronger production estimates, particularly from parts of South America, propped up global supply prospects. Moreover, although elevated uncertainty due to Covid-19 in early April boosted prices somewhat, price momentum likely tapered due recent easing of lockdown measures globally, which in turn brought prices closer to its fundamentals. Nevertheless, U.S. wheat exports continue to outpace the USDA’s projections for this year, while the condition of winter wheat continued to deteriorate slightly in recent weeks, both of which likely supported 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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