Three-Month Wheat Futures Price Rises for Fourth Consecutive Day

The three-month wheat contract price for Tuesday, May 14, 2024, increased. Today's trading of the three-month wheat contract was recorded at US$689.3 per bushel. This figure is higher than the previous day's trading, which was at US$686.75 per bushel. This current condition completes the upward trend of the three-month wheat contract price over the past four days.

Over the past week, the three-month wheat contract price has grown by 10.73 percent, with an average daily transaction price of US$657.51 per bushel. As a result, throughout 2024, the three-month wheat contract price has increased by 13.61 percent from its year-start position of US$606.75 per bushel. This current trading price of the three-month wheat contract represents the highest point reached this year.

Annually, the average trading price of the three-month wheat contract over the past five years has been in a downward trend. Meanwhile, for monthly price monitoring, transactions in the last 12 months have tended to decrease. The highest average monthly price of the three-month wheat contract was recorded in June 2022 at US$1013.57 per bushel.