Grains · ZW-SPOT

Wheat price

US$653.00 / bushel
≈ €555.36 ≈ £486.68 Unchanged 24h 84% within the 52-week range
FX Editorial Team · Data updated: · Editorially verified
Wheat (ZW-SPOT) price today US$653.00 / bushel, ↑ +0.00% (24h)

Wheat chart

Interactive chart and 30-day overview

7 days
▲ +1.98%
+US$12.70
30 days
▲ +6.49%
+US$39.80
1 year
▲ +18.75%
+US$103.10
52-week range
US$494.02 84% US$682.90
Wheat (ZW-SPOT) 30-day price chart — USD, EUR, GBP

The Wheat chart shows how the wheat price has moved over time. The interactive view lets you switch the timeframe (from 7 days up to MAX), the currency (USD / EUR / GBP) and overlay moving averages. Click any two points to measure the percentage change between those dates.

What drives the price of wheat?

Wheat prices are driven first by global harvests and stock levels. FAO and USDA data put annual world production in the ~780 million tonnes range. China is the largest producer at about 140 Mt, followed by the European Union as a bloc at about 130 Mt, India, Russia at about 85 Mt and the United States. The export market is led by a different group. Russia has been the largest wheat exporter for years, followed by Australia, Canada, the United States, Argentina and Ukraine. One of the market’s most closely watched indicators is the stock-to-use ratio, or ending stocks relative to consumption. When it falls below 25%, supply is considered tight and prices tend to come under upward pressure.

Weather is the main source of short-term price volatility. Winter wheat development depends on autumn rainfall and winter snow cover. Spring wheat is sensitive to heatwaves in July and August. The market watches Russia’s Volga region, Kansas and Oklahoma in the US, New South Wales and Western Australia, and the main growing areas in France and Germany. A severe drought in the Black Sea region — as seen around the period of Russia’s export ban — can lift prices by more than 50% within a few months.

Geopolitics and trade policy can quickly redraw the supply map. Conflicts in the Black Sea region, export quotas, import tenders and policy decisions by large buyers — especially Egypt (GASC tenders), Indonesia, China, Algeria and Turkey — can move Chicago and Paris (Euronext MATIF) prices within weeks. Flows into the WEAT (Teucrium Wheat Fund) ETF and speculative positioning in the CFTC Commitments of Traders report can add further short-term moves.

How can investors get exposure to wheat?

Investors can access the wheat market without holding the physical grain in several ways: exposure linked to WEAT (Teucrium Wheat Fund, ticker: WEAT; availability for EU retail clients is limited), CFDs on Chicago wheat (often listed as WHEAT by brokers), futures contracts (CBOT ZW), and shares in major grain-processing and trading companies such as Archer Daniels Midland — ADM, Bunge and Corteva. WEAT and wheat CFDs provide the cleaner agricultural exposure. Agribusiness shares are more indirect and carry company-specific business risk. Two regulated brokers offering wheat CFDs, agribusiness shares and, depending on the platform and client classification, WEAT exposure are:

30-day price history

Chart and daily closing prices

Wheat (ZW-SPOT) 30-day price chart — USD, EUR, GBP

Daily close

30 trading days

Date Price (USD) Price (EUR) Price (GBP) Daily change
23 May 2026 US$653.00 €555.36 £486.68 ▲ +0.06%
22 May 2026 US$652.60 €555.02 £486.38 ▼ −1.14%
21 May 2026 US$660.10 €561.40 £491.97 ▼ −0.66%
20 May 2026 US$664.50 €565.14 £495.25 ▼ −1.39%
19 May 2026 US$673.90 €573.13 £502.26 ▲ +0.81%
18 May 2026 US$668.50 €568.54 £498.23 ▲ +4.40%
16 May 2026 US$640.30 €544.56 £477.22 ▲ +0.27%
15 May 2026 US$638.60 €543.11 £475.95 ▼ −3.10%
14 May 2026 US$659.00 €560.46 £491.15 ▼ −3.50%
13 May 2026 US$682.90 €580.79 £508.97 ▲ +3.68%
12 May 2026 US$658.65 €560.16 £490.89 ▲ +3.59%
11 May 2026 US$635.80 €540.73 £473.86 ▲ +1.99%
10 May 2026 US$623.40 €530.18 £464.62 ▲ +1.00%
6 May 2026 US$617.20 €524.91 £460.00 ▼ −1.91%
5 May 2026 US$629.20 €535.12 £468.94 ▼ −1.93%
4 May 2026 US$641.60 €545.66 £478.18 ▲ +0.53%
2 May 2026 US$638.20 €542.77 £475.65 ▲ +0.28%
1 May 2026 US$636.40 €541.24 £474.31 ▼ −0.33%
30 Apr 2026 US$638.50 €543.03 £475.87 ▼ −3.07%
29 Apr 2026 US$658.70 €560.20 £490.93 ▲ +4.37%
28 Apr 2026 US$631.10 €536.73 £470.36 ▲ +0.62%
27 Apr 2026 US$627.20 €533.41 £467.45 ▲ +1.79%
25 Apr 2026 US$616.20 €524.06 £459.25 ▲ +0.49%
22 Apr 2026 US$613.20 €521.51 £457.02 ▲ +1.73%
21 Apr 2026 US$602.80 €512.66 £449.27 ▼ −0.43%
20 Apr 2026 US$605.40 €514.87 £451.20 —

Wheat FAQ

Why is wheat priced in bushels? +
The bushel is the traditional unit of measure in Anglo-American grain trading. It was originally based on volume, at about 35.24 litres, but for wheat it is fixed by weight: 1 bushel = 60 US pounds = 27.2155 kg. The Chicago Board of Trade (CBOT, now part of CME Group) quotes wheat futures in this unit, and that price is a global benchmark. In many European cash markets, wheat is quoted per tonne. The international bushel price can be converted to tonnes using a multiplier of 36.7437.
How much is 1 bushel of wheat in kilograms and tonnes? +
1 bushel of wheat = 60 US pounds = 27.2155 kg. That means 1 tonne = 36.7437 bushels, and 1 kg = 0.0367 bushel. The number differs for other grains: 1 bushel of corn is 25.40 kg, 1 bushel of soybeans is 27.22 kg and 1 bushel of oats is only 14.52 kg. The bushel-to-tonne conversion therefore depends on the crop. The 36.7437 multiplier applies to wheat and cannot be generalised.
What is the difference between SRW, HRW and spring wheat? +
Three main wheat classes trade in global markets. Soft red winter (SRW) wheat is quoted on the Chicago CBOT under the ZW ticker. It has lower protein content and is used for bakery and biscuit products. Hard red winter (HRW), traded in Kansas City (KCBT, ZK), is a higher-protein bread wheat and accounts for the largest share of the US crop. Spring wheat trades in Minneapolis (MGE, MW) and is a premium bread and pasta ingredient with the highest protein content.
Why do USDA WASDE reports matter for the wheat market? +
The USDA’s monthly WASDE report, short for World Agricultural Supply and Demand Estimates, is the most influential data release for global grain markets. It updates crop estimates, consumption forecasts, export and import flows, and ending stocks for wheat, corn, soybeans and rice. On WASDE release days, usually in the second week of the month, Chicago wheat prices can move sharply if the figures differ from the average estimate in Reuters or Bloomberg market surveys.
Who is the world’s largest wheat producer and exporter? +
China leads in production at about 140 Mt, almost all of it for domestic consumption. It is followed by the European Union as a bloc at about 130 million tonnes, then India, Russia at about 85 Mt and the United States. The export market is dominated by Russia, which has become the largest player in global wheat exports in recent years. It is followed by Australia, Canada, the United States, Argentina and Ukraine. Russia and Ukraine together account for about 25% of global wheat exports, which is why the market is sensitive to events in the Black Sea region.
What is the stock-to-use ratio and why does the market watch it? +
The stock-to-use ratio divides ending stocks by annual use. It shows how many months of consumption are covered by reserves at the start of the next season. For wheat, a global reading persistently above 30% points to ample supply, while a level below 25% signals a tight market. USDA WASDE reports and the FAO Cereal Supply and Demand Brief publish this data regularly, and pricing debates often use it as a shorthand for the fundamental balance.
WEAT ETF, wheat CFD or agribusiness shares — what is the difference? +
Each has a different risk-return profile. The Teucrium Wheat Fund (WEAT) holds Chicago wheat futures directly, so it tracks movements in futures prices. It also charges a management fee and is affected by roll yield, the impact of moving from expiring contracts into later-dated ones. A wheat CFD is leveraged and suited to short-term speculation, but financing costs and the risk of leveraged losses are significant. Agribusiness shares such as ADM, Bunge and Corteva provide indirect exposure. They may react to the wheat market, but they also carry company-specific business risk.
How do exchange rates affect local wheat prices? +
Chicago and Paris wheat benchmarks are quoted in US dollars and euros, while local cash prices in the UK, Europe and other markets are often quoted in domestic currency per tonne. The gap between the international benchmark and the local producer price reflects three main factors: transport and logistics costs, quality premiums or discounts, such as milling versus feed wheat and protein content, and the exchange rate against the dollar or euro. A weaker local currency can lift the domestic price received for the same international benchmark. Tax treatment varies by jurisdiction; consult a local tax adviser.

More grains

Corn
US$4.67
bushel
Soybean
US$11.97
bushel
Rice
US$12.98
Cwt
Oats
US$371.33
bushel
Data sources: USDA WASDE — World Agricultural Supply and Demand Estimates · USDA Foreign Agricultural Service — Grain: World Markets and Trade · FAO — Cereal Supply and Demand Brief · CME Group — CBOT Wheat Futures (ZW)