Three-Month Wheat Futures Prices Fall for Three Consecutive Days

July 28, 2024 recorded a 0.31 percent drop in the three-month wheat contract price to US$521.88 per bushel. This decline is significantly higher than the average price movement over the past week.

Today's price movement, a 0.31 percent decrease, was the highest weekly decline. It shows a weakening of 13.99 percent compared to the beginning of the year.

This situation mirrors the downward trend observed in the three-month wheat contract price over the past three days.

Over the past week, the three-month wheat contract price has fallen by 2.5 percent, with an average daily transaction price of US$537.66 per bushel. Compared to the beginning of the year, the three-month wheat contract price has decreased by 13.99 percent. Furthermore, from its yearly high of US$700.25 per bushel, the price has fallen by 25.47 percent.

Annually, the average trading price of the three-month wheat contract has shown 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 was recorded in September 2022 at US$833.91 per bushel.