Three-Month Wheat Futures Price Rises for Three Consecutive Days

August 3, 2024 recorded a 1.32 percent increase in the three-month wheat contract price, reaching US$539 per bushel. This increase is significantly higher than the average price movement over the past week.

This week, the three-month wheat contract saw its highest surge on Thursday, August 1, 2024, at 1.32 percent. However, trading since the beginning of the year has shown a continuous decline, with year-to-date (YTD) growth down 11.17 percent.

The current situation mirrors the trend of the three-month wheat contract price over the past three days, which has been declining.

Over the past week, the three-month wheat contract price grew by 0.23 percent, with an average daily transaction price of US$528.61 per bushel. Compared to the price at the beginning of the year, the three-month wheat contract price has grown by -11.17 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.

Annually, 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.