Three-month wheat futures traded at US$533.4 per bushel this morning (Tuesday, July 16, 2024)

July 16, 2024, recorded a 0.45% increase in the three-month wheat contract price, reaching US$533.4 per bushel. This increase is significantly higher than the average price movement over the past week.

Today's price movement, at 0.45%, is the highest this week. However, it shows a weakening trend, down 12.09% compared to the beginning of the year.

The current situation is similar to the movement of the three-month wheat contract price in the last 24 hours, which is currently on a downward trend.

Over the past week, the three-month wheat contract price has grown by -6.79%, with an average daily transaction price of US$543.91 per bushel. According to Katadata Insight Center (KIC) calculations, year-to-date (YTD), the three-month wheat contract price has fallen by 12.09%. The highest trading value for the three-month wheat contract commodity this year was US$700.25 per bushel, which occurred 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 that transactions in the last 12 months have tended to decrease. The highest average monthly price for the three-month wheat contract commodity was recorded in September 2022 at US$833.91 per bushel.