Three-month wheat contract price traded at US$538.6 per bushel this morning (Monday, August 12, 2024)

Investing.com notes that the price of three-month wheat contracts today fell 0.72 percent to US$538.6 per bushel. This price drop is significantly higher than the average price movement over the last week.

Today's price movement represents the highest weekly decline at 0.72 percent. Meanwhile, trading since the beginning of the year has continuously declined, with year-to-date (YTD) growth down 11.23 percent.

The current situation is similar to the movement of three-month wheat contract prices in the last 24 hours, which are currently on an upward trend.

Over the past week, the price of three-month wheat contracts grew by -0.07 percent, with an average daily transaction price of US$540.01 per bushel. As a result, throughout 2024, the price of three-month wheat contracts has shrunk by -11.23 percent from its year-start position of US$606.75 per bushel. The highest trading value for three-month wheat contracts this year was US$700.25 per bushel, which occurred on Tuesday, May 28, 2024.

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