Wheat prices skyrocketed to a near 6-year high of 618.25 USd/Bu in mid-October, driven by supply disruptions due to prolonged dry weather in the US Great Plains, Argentina and Russia. Along with tighter supplies were continued robust demand for basic foodstuff in the wake of rising coronavirus cases worldwide.
Historically, Wheat reached an all time high of 1334.50 in February of 2008. Wheat - data, forecasts, historical chart - was last updated on October of 2020.
Wheat is expected to trade at 590.56 USd/BU by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 510.98 in 12 months time.