Chicago wheat futures were trading around $6.7/bushel in late-January, not far from a 6-1/2-year high of 6.9/bushel hit earlier this month amid persistent supply concerns and news that Russia approved a proposal to impose higher export tax on the commodity.
Historically, Wheat reached an all time high of 1334.50 in February of 2008. Wheat - data, forecasts, historical chart - was last updated on February of 2021.
Wheat is expected to trade at 637.49 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 551.59 in 12 months time.