Chicago wheat futures traded above $6.8 per bushel at the end of July, not far from a two-month high of $7.2 per bushel touched earlier in the month, amid signs of crop damage in the United States and Canada due to hot, dry weather in recent weeks. Meanwhile, the governor of Russia's southern region of Krasnodar, one of the country's largest wheat-producing and exporting areas, said the region harvested a record grain crop of 12.4 million tonnes.
Historically, Wheat reached an all time high of 1334.50 in February of 2008. Wheat - data, forecasts, historical chart - was last updated on July of 2021.
Wheat is expected to trade at 713.41 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 825.59 in 12 months time.