Three-Month Wheat Contract Price Falls to US$535.9 per Bushel (Sunday, August 4, 2024)

On August 5, 2024, the three-month wheat contract price fell 0.58 percent to US$535.9 per bushel. This decrease is significantly higher than the average price movement over the past week.

The three-month wheat contract price saw its highest surge this week on Thursday, August 1, 2024, increasing by 1.32 percent. However, trading since the beginning of the year has continuously declined, with year-to-date growth down 11.68 percent.

The current situation mirrors the downward trend observed in the three-month wheat contract price over the last day.

Over the past week, the three-month wheat contract price grew by 2.37 percent, with an average daily transaction price of US$530.38 per bushel. Compared to its position 30 days ago, the three-month wheat contract price has grown by -3.18 percent. The highest trading value for the three-month wheat contract commodity this year was recorded at US$700.25 per bushel on Tuesday, May 28, 2024.

Annually, the average trading price of the three-month wheat contract has been on a downward trend over the past five years. Meanwhile, monthly price monitoring shows that transactions over the past 12 months have tended to decrease. The highest average monthly price for the three-month wheat contract commodity was recorded in September 2022 at US$833.91 per bushel.