Daily Management Review

Global wheat prices are declining after historical records in early March


Analysts explain this by anticipated good crop in the northern hemisphere, and the return of Ukrainian exports through Black Sea ports.

Marco Verch Professional Photographer
Marco Verch Professional Photographer
Early in March, just after it was announced that Russia had begun its invasion in Ukraine, wheat prices globally reached new records. The price of U.S. wheat futures, for instance, hit $13.4 per bushel, or $493 per ton, on the Chicago Exchange.

Wheat futures for September delivery were priced at $7.9 per bushel ($290 per ton) as of August 23, which is just under half the record reached in March. Milling wheat reached its previous high of €418.5 on May 23 and was trading at €316.8 per ton on Monday, August 22 on the MATIF exchange in Paris.

Wheat prices often drop at the start of the new season, which begins on July 1. The current season 2022–2023 was no exception, with prices sharply declining before stabilizing a bit in August.

source: bloomberg.com