Wheat Futures Prices Rise for the Past Four Days

Investing.com notes that the three-month wheat contract price today rose 0.37 percent to US$689.3 per bushel. This price increase is relatively high compared to the average price movement over the last week.

This week, the three-month wheat contract price saw its highest surge on Monday, May 13, 2024, at 3.5 percent. It has strengthened by 13.61 percent compared to its year-to-date position.

The current situation completes the upward trend of the three-month wheat contract price over the past four days.

Over the past week, the three-month wheat contract price grew by 10.73 percent, with an average daily transaction price of US$657.51 per bushel. According to Katadata Insight Center (KIC) calculations, year-to-date (YTD), the three-month wheat contract price has increased by 13.61 percent. This current trading price for the three-month wheat contract is the highest achieved this year.

Annually, the average trading price of the three-month wheat contract over the past five years has been in a downward trend. Meanwhile, for monthly price monitoring, transactions in the last 12 months have tended to decline. The highest average monthly price for the three-month wheat contract was recorded in June 2022 at US$1013.57 per bushel.