Three-month wheat futures contract closed at US$599.1 per bushel (Friday, April 26, 2024)

Investing.com notes that the price of three-month wheat contracts today fell 0.52 percent to US$599.1 per bushel. This price drop is considerably higher than the average price movement over the last week.

This week, the price of three-month wheat contracts saw its highest surge on Monday, April 22, 2024, reaching 3.63 percent. However, trading since the beginning of the year has shown a continuous decline, with year-to-date growth at 1.26 percent.

The current situation is similar to the previous trend of three-month wheat contracts, which were on an upward trend.

Over the last week, the price of three-month wheat contracts grew by 11.56 percent, with an average daily transaction price of US$576.87 per bushel. As a result, throughout 2024, the price of three-month wheat contracts has fallen 1.26 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$616 per bushel, recorded on Friday, January 5, 2024.

Annually, the average trading price of three-month wheat contracts over the last five years has been on a downward trend. Meanwhile, monthly price monitoring shows that transactions in the last 12 months have tended to decline. The highest average monthly price for three-month wheat contracts was recorded in May 2022 at US$1144.59 per bushel.