Three-Month Wheat Futures Price Rises to US$548.8 per Bushel (Thursday, July 25, 2024)

On July 26, 2024, the three-month wheat contract price increased by 0.24 percent to US$ 548.8 per bushel. This increase is considered relatively high compared to the average price movement over the past week.

This week, the three-month wheat contract price saw its highest jump on Monday, July 22, 2024, at 0.97 percent. However, it has weakened, falling 9.55 percent compared to its year-start position.

The current situation continues the downward trend in the three-month wheat contract price over the past two days.

Over the past week, the three-month wheat contract price grew by 3.4 percent, with an average daily transaction price of US$ 543.47 per bushel. As a result, throughout 2024, the three-month wheat contract price has decreased by -9.55 percent from its year-start position of US$ 606.75 per bushel. The highest trading value for the three-month wheat contract commodity 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 has been on a downward trend over the past five years. 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 commodity was recorded in September 2022 at US$ 833.91 per bushel.