Commodity
Wheat
The international wheat price in dollars per tonne. Driven by harvests, exporter policy, and freight costs, it is an early indicator of food inflation and cost-of-living pressure in emerging markets.
Wheat latest observations
- Observed
- 2026-10-28
- Latest
- 608.3 USD/mt
- Change from previous
- ▼ -2.00 USD/mt
Check the observation dates in both the summary and chart; release and refresh times can differ.
At a glance
Wheat: latest value and prior change
As of 2026-10-27, Wheat is 613.3 USD/mt. It is 2.75 USD/mt lower than 616.0 USD/mt on 2026-10-26.
Across 709 available observations from 2024-01-02 to 2026-10-27, the latest value is at the tie-adjusted 82nd percentile.
- Observed on
- Default comparison window
- 2024-01-02–2026-10-27
- Observations · observed cadence
- 709 · Daily
- Data source
- FRED
A high or low percentile does not by itself make the indicator positive, negative, or a buy or sell signal.
2026-08-04 → 2026-10-27 · USD/mt
- First
- 638.5 USD/mt
- 2026-08-04
- Latest
- 613.3 USD/mt
- 2026-10-27
- Window low
- 613.3 USD/mt
- 2026-10-27
- Window high
- 767.0 USD/mt
- 2026-08-28
The horizontal axis follows observation order; calendar intervals may differ. High and low refer to observed values within this window, not intraday or all-time extremes. Ties show the first observation date.
Time-series chart
Wheat
2024-01-02–2026-10-27
Long-history series are stored as real provider observations. Index, FX, VIX, and ratio charts use historical backfill where providers expose it; Korean investor flow and margin-credit feeds expand as stable historical endpoints become available.
Recent observations and calculated changes
The ten latest chart observations. Change subtracts the previous observation; intervals vary with holidays, release schedules and missing data. A difference in rates or ratios is not an investment return.
| Observed | Value | Previous date | Difference (current − previous) |
|---|---|---|---|
| 2026-10-27 | 613.3 USD/mt | 2026-10-26 | -2.75 USD/mt |
| 2026-10-26 | 616.0 USD/mt | 2026-10-23 | -9.00 USD/mt |
| 2026-10-23 | 625.0 USD/mt | 2026-10-22 | 0.25 USD/mt |
| 2026-10-22 | 624.8 USD/mt | 2026-10-21 | -3.50 USD/mt |
| 2026-10-21 | 628.3 USD/mt | 2026-10-20 | -15.00 USD/mt |
| 2026-10-20 | 643.3 USD/mt | 2026-10-19 | -12.00 USD/mt |
| 2026-10-19 | 655.3 USD/mt | 2026-10-16 | -5.25 USD/mt |
| 2026-10-16 | 660.5 USD/mt | 2026-10-15 | -9.50 USD/mt |
| 2026-10-15 | 670.0 USD/mt | 2026-10-14 | -3.25 USD/mt |
| 2026-10-14 | 673.3 USD/mt | 2026-10-13 | 4.00 USD/mt |
Source: FRED
Interpretation guide
Wheat futures: weather, geopolitics, and the grocery bill
This series tracks CBOT wheat futures in U.S. cents per bushel, the reference price for global grain trade. Wheat moves on harvest conditions and stock levels in major producing regions, plus geopolitics in the Black Sea, which handles a large share of world exports, making it a primary channel into food inflation.
A price that lives on the crop calendar
Wheat harvests alternate between hemispheres, so somewhere in the world weather is always in play. The USDA's monthly world supply-and-demand estimates serve as the benchmark for how much cushion exists, expressed through projected ending stocks.
- When global ending-stock projections are being revised down, drought or flood headlines move prices hard.
- In well-stocked years, production scares tend to produce rallies that fail to hold.
- Volatility rises seasonally around planting and harvest windows, which is worth building into timing.
The Black Sea as a permanent variable
Russia and Ukraine account for a substantial share of world wheat exports, so war, export controls, and port conditions in the region have become structural price risks. History also shows that geopolitics-driven spikes tend to retrace quickly once supply fears ease.
- During Black Sea flare-ups, track follow-up reporting on whether shipments are actually disrupted.
- Export restrictions can come from producers beyond Russia, including India, so scan the news widely.
- Post-spike normalization can unwind gains fast, so chasing highs demands particular caution.
Seen from a country that imports nearly all its wheat
Korea relies on imports for almost all food-grade wheat, so global price rises pass through to flour, feed, and processed-food costs with a lag of a few quarters. Import bills are settled in dollars, meaning a weaker won magnifies the burden even at an unchanged Chicago price.
- If wheat strength persists, watch TapeFlow's Korea CPI series for a processed-food and dining channel.
- Check the USD/KRW series in parallel to separate currency effects from the commodity move.
- Cost pressure on food companies varies with pricing power, so assess pass-through ability case by case.
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