Three-month wheat futures contract traded at US$527.4 per bushel this morning (Tuesday, July 30, 2024)

On July 30, 2024, the three-month wheat contract price fell 0.54 percent to US$527.4 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 Monday, July 29, 2024, increasing by 1.29 percent. However, it has weakened, showing a 13.08 percent decrease compared to its year-to-date position.

The current situation mirrors the recent trend of the three-month wheat contract price, which has been declining in the last day.

Over the past week, the three-month wheat contract price has grown by -2.83 percent, with an average daily transaction price of US$536.66 per bushel. Compared to the beginning of the year, the price has grown by -13.08 percent. The highest trading value for the three-month wheat contract this year was US$700.25 per bushel, recorded on Tuesday, May 28, 2024.

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